Martin Lewis and Which? have jointly called on the Labour government to launch a crackdown on what they describe as a 'perverse' trend of Big Tech profiting from online scams. In a letter sent to Prime Minister Sir Keir Starmer on May 20, 2026, Which? Chief Executive Anabel Hoult and Money Saving Expert founder Martin Lewis highlighted missed opportunities in the government's Fraud Strategy.
Damning Verdict on Fraud Strategy
The letter delivers a damning verdict on the government's recently published Fraud Strategy, contrasting its weak approach with decisive action taken over deepfake sexual content on Grok. The pair urge the government to instruct Ofcom, the regulator enforcing the Online Safety Act, to speed up its work and take action against platforms hosting scams.
Letter Highlights
The letter states: 'Dear Prime Minister, Recently, you said the Government would take action against X if it did not address issues with its AI bot Grok, stating, “if you profit from harm and abuse, you lose the right to self-regulate”. This is the right attitude, but it is sadly woefully lacking when it comes to all victims of harm and online abuse.'
It continues: 'This fraud doesn’t just destroy people’s financial lives, it can also destroy self-esteem and have huge impacts on mental health. It is easily one of the most common forms of “harm and abuse” and needs addressing as a matter of urgency.'
Fraud Statistics and AI Deepfakes
Fraud accounts for 45% of all UK crime, the majority online. The landscape of scams continues to degrade with more invasive scams using advanced technology, including AI deepfakes for 'get rich quick' schemes and fake news articles. These often use trusted names like Martin Lewis, Deborah Meaden, and Richard Branson to prey on consumers.
In the first half of 2025, 66% of authorised push payment fraud began on major online platforms. AI has given criminals tools to execute high-value frauds at scale, driving a 55% increase in investment scams over the past year.
Big Tech Profiting from Scams
The letter argues: 'Major online platforms are not just hosting criminal activity, they are actively profiting from it. Latest reports show that platforms generate approximately £3.8 billion annually from scam ads targeting European users.'
It criticizes platforms for claiming technological difficulties, stating: 'That isn’t true, it is a lack of incentive. They aim to operate frictionless advertising models, so anyone, without checks, can pay and get their ads published. They aren’t willing to add the friction that responsible advertising demands.'
Call for Action
While welcoming comments from DSIT Secretary Liz Kendall and the Fraud Minister, the letter expresses concern that the government is taking no meaningful action. It states: 'By failing to hold Big Tech firms accountable through the Fraud Strategy and Online Safety Act, we're concerned the government is giving these platforms free rein to continue profiting from the financial and emotional harm scams cause.'
The letter demands that platforms be legally obligated to protect users from scam advertising under the Online Safety Act, with implementation of codes of practice for paid-for fraudulent advertising currently delayed until 2027. It urges: 'The Government must instruct Ofcom to deliver these codes as soon as possible. Additionally, we would appreciate confirmation of how you will be holding platforms to account until these protections take effect.'
