Social media has grown into something of a wild west – and we’ve recently seen governments (including the UK’s Labour under Keir Starmer) look to clamp down on access for under 16s.
But whether you back or oppose the former PM's move, it's not just teens at risk of getting burned when things go wrong online. This month, a couple of pieces of research served as stark reminders of the sometimes-damaging consequences when people take financial advice from the internet. Almost six in ten people who acted on online financial advice went on to regret doing so, a TSB survey of almost 2,000 UK adults found. Of those who had followed advice from social media platforms, more than half (56%) had lost money as a result. TSB found that average social media losses were around ...
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