New fraud protection rules for social media start tomorrow

New rules to protect social media users from fraud will take effect tomorrow. Online platforms must establish channels for reporting scams and face penalties for non-compliance. Ofcom can impose fines or block access to non-compliant sites. The new regulations also require platforms to appoint a senior official to handle illegal content. Additional measures include protecting children from online harms and allowing women to block harassers. Companies must also remove terrorist accounts from their platforms. Fraud complaints have reached record levels, with significant increases reported in recent months. The Financial Ombudsman Service noted over 9,000 fraud cases between July and September, highlighting the growing issue of scams on social media.