Today Facebook has announced a new Scam Busting Service to tackle online scam ads in the UK.

Facebook has agreed to donate £3m to establish an anti-scam initiative, following legal action from Money Saving Expert, Martin Lewis.

Users will now be able to report ads which will be reviewed by a specialist team at Facebook. The new tool can be accessed by clicking the three dots in the top corner of ads shown on the platform¬– by selecting ‘misleading or scam ad’ as the reason for concern.

On his website, Martin Lewis said: “The UK faces an epidemic of online scam ads – they’re everywhere. Yet disgracefully there’s little effective law or regulation to prevent them, and official enforcement is poor to non-existent, as these criminals are usually based outside of the EU…”

According to the BBC, Citizen’s Advice expects to help 20,000 people in the first year of the service and warned users to be scam aware. The Office for National Statistics say that people are more likely to fall victim to fraud than any other crime. Estimated costs from 2017 said to be around £190bn each year.

What you should know about scams

Scams change all the time, and tricksters are skilled in using tactics that are easy to hide, they often rely on tactics that work.

• • Remember if something sounds too good to be true- it probably is
  • Be aware of anything that puts you under pressurise to act quickly
  • Be aware of sharing personal information or bank details

Visit the Safer Schools Safety Centre to learn more about reporting an ad.

To find out more about protecting yourself from scams click here

You can report fraudulent scams to Action Fraud using their online reporting tool, or by calling them on 0300 123 2040.