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Original headline: Andrew Bailey calls for clampdown on downright criminal social media scams
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- Andrew Bailey calls for clampdown on ‘downright criminal’ social media scams
Bank of England Governor Andrew Bailey, speaking in Bangkok, called on social media companies to help address ‘downright criminal’ activity on their platforms, arguing that some firms face ‘no real liability’ for content posted. IMF head Kristalina Georgieva separately warned that cyber fraud risks are undermining trust in financial systems. Bailey himself has been targeted by AI deepfakes on X, and the Bank earlier reported adverts designed to ‘exploit the public’ that linked to fake news articles and investment schemes. He said responsibility is shared across society and that social media firms must be involved because much of this fraud is transmitted through their channels.
- Andrew Bailey calls for clampdown on downright criminal social media scams | Harwich and Manningtree Standard
- Andrew Bailey calls for clampdown on downright criminal social media scams
- Andrew Bailey calls for clampdown on downright criminal social media scams
- Albo the number one social media influencer for Palau
Palau President Surangel Whipps Jr. visited Australia this week to open his country's new embassy in Canberra, part of the Albanese government's push to deepen Pacific ties amid China's influence in the region. In an interview with Finn McHugh, he said the pre-COP meeting in Fiji drew over 3,000 participants and more than a thousand side events, helping focus attention on the Pacific. He argued that Pacific nations continue to lead on the 1.5-degree target, sea-level rise and ocean protection. He stressed that the focus should be on the energy transition, noting Australia is at 50% and aims for 82% by 2030, while Palau expects 25% renewable power on its grid. He also said renewable energy is now cheaper than coal, with battery-plus-solar projects in India being built at 3.5 cents per kilowatt.
- Balaji’s ‘Singapore of social media’ begins with a wave of bans
Network School, founded by Balaji Srinivasan, has acquired Farcaster from Neynar and rebranded it as the Network State Protocol, and several users' accounts were then set to read-only over past posts that break the new rules. Srinivasan says the aim is to make the app “the Singapore of social media,” a community of techno-optimists under a shared code of conduct, with posts reviewed by humans and AI and an appeals process available. The Network Code classifies violations as digital felonies, misdemeanors or infractions, with penalties from warnings to bans, and applies to past posts. Users who decline the contract keep their keys, funds and followers but only get read-only access. Critics say the bans go against the ethos of decentralized social media, while co-founder Dan Romero reported 250,000 monthly active users in December 2025.
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