Government set to ban cold calls on all financial products

The proposal is part of the prime minister’s new strategy to tackle fraud

Jaskeet Briah
clock • 2 min read

The government is set to ban cold calls on all financial products, including insurance policies, as part of prime minister Rishi Sunak’s new strategy to tackle fraud.

The plan will outlaw all cold calls made to consumers attempting to sell financial products, including legitimate sales calls, following a similar move on pensions products in 2019. Fraud accounts for more than 40% of all crime in the UK, according to the government, costing it nearly £7bn a year. New technologies are making these scams "easier to do and harder to police" and the new initiative will help potential victims to "know it's a scam", the government stated. As part of the initiative, a new National Fraud Squad led by the National Crime Agency and the City of London Police wi...

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