“The UK is in the grip of a fraud epidemic and this research lays bare how children are being targeted by scammers on social media.
“Considering online fraud is one of the most commonly committed crimes in the UK today, it is simply not good enough that protections against fraudulent advertisements are not likely to come into effect until 2027.
“Ofcom must implement the Online Safety Act in full as soon as possible to help prevent millions more children and adults losing money to scam ads. The regulator must also take strong action against any firms who don’t properly safeguard their users against user-generated fraud after new protections come into effect in March.”