Government set to ban cold calls on all financial products

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...