Harriett Baldwin raises concerns about the increase in financial fraud and asks the Government how the victims Bill will help people who are being preyed upon by these financial fraudsters.
Like my hon. Friend the Member for Bosworth (Dr Evans), the Treasury Committee has been hearing about the explosion in online financial fraud. Could my right hon. and learned Friend explain how the victims Bill will help so many of our constituents who are being preyed upon by these financial fraudsters? (900210)
My hon. Friend is absolutely right to raise an issue that affects many people. One issue is the embarrassment and shame of people who fall victim to such fraud that they could have been tricked in the first place. Not only is supporting victims to overcome that stigma very much part of the victims code that we introduced in the past month or so, working with the sector, but as we develop the consultation into our new law, there will be opportunities fully to reflect the pernicious nature of online criminality. By helping to design out fraud, the financial services sector can make its greatest contribution to the reduction of such heinous crime.