Government set to ban cold calls on all financial products

The proposal is part of the prime minister’s new strategy to tackle fraud

Jaskeet Briah
clock • 2 min read

The government is set to ban cold calls on all financial products, including insurance policies, as part of prime minister Rishi Sunak’s new strategy to tackle fraud.

The plan will outlaw all cold calls made to consumers attempting to sell financial products, including legitimate sales calls, following a similar move on pensions products in 2019. Fraud accounts for more than 40% of all crime in the UK, according to the government, costing it nearly £7bn a year. New technologies are making these scams "easier to do and harder to police" and the new initiative will help potential victims to "know it's a scam", the government stated. As part of the initiative, a new National Fraud Squad led by the National Crime Agency and the City of London Police wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

The FCA's DE&I volte-face: Why doing the right thing still matters

The FCA's DE&I volte-face: Why doing the right thing still matters

Delayed NFM regulations set to take effect in June

Jo Keddie
clock 07 April 2025 • 5 min read
FOS expects to resolve 20% more cases as complaints surge

FOS expects to resolve 20% more cases as complaints surge

270,000 cases estimated to be resolved in 2025/26 amid demand

Isabel Baxter
clock 03 April 2025 • 3 min read
The Vulnerability Review: A reflection on the FCA findings and addressing the elephant in the room

The Vulnerability Review: A reflection on the FCA findings and addressing the elephant in the room

'Identification. Action. Reporting – don't delay'

Jonathan Barrett
clock 02 April 2025 • 3 min read