For me, the aims of the ban were two-fold – to make life harder for potential fraudsters, and to raise awareness among consumers about the dangers of scams and how to avoid them. I’d argue that, on those measures, the ban has already been a success.
This is not the time for hubris, however, and the whole industry – including regulators, government, providers and advisers – have a role to play in ensuring people are alive to the dangers posed by scams.
Article continues after advert
Tom Selby is a senior analyst at AJ Bell
Page 2 of 2
