Anti-Fraud & Financial Crime
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EU, Regulatory

NEWS: Commission drafts voluntary code of conduct to curb online scams

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters, in Brussels, Belgium, February 1, 2023 REUTERS/Yves Herman

By CARLO BOFFA, EU Correspondent

The European Commission is drafting a voluntary code of conduct to tackle online scams, a senior official said on Wednesday.

Brussels has stepped up scrutiny of social media and online platforms as scams are spreading out of control, with one in four Europeans having fallen victim.

“Everyone in Europe should be able to scroll, shop, book or connect online without fear of being scammed,” said Rita Wezenbeek, director for platforms at DG CONNECT. “That is why we are taking concrete action under the Digital Services Act (DSA).”

Firms will be free to sign up to the code, which the Commission is developing with the European Board for Digital Services and the Payment Systems Market Expert Group, she said.

Wezenbeek will headline AML Intelligence’s Compliance Council at the European Parliament in Brussels on November 4, alongside MEPs Regina Doherty and Arba Kokalari and Hendrik Frank, head of policy for Europe and the UK at Adyen.

The announcement follows the Commission’s formal probe into Booking.com last week over fraudulent listings and phishing. Wezenbeek said opening proceedings “does not prejudge the outcome”.

“Online scams may be familiar. They should never become normal,” she said.

The Commission held two events on October 23 and 26 to discuss the code with banks, payment service providers and more than 100 participants from civil society.

“There was strong interest, particularly in advertising transparency, reporting tools and risk assessments,” Wezenbeek said.

The Commission will host another meeting with very large online platforms and search engines in early November, she added.

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