Parent Zone, in collaboration with UK Finance and Cifas, faced the critical challenge of understanding and combating online child financial harms (CFH), including fraud, identity theft, money muling, and money laundering. These harms threatened the financial security and well-being of children, demanding a comprehensive assessment of the landscape and the identification of systemic change levers.
We led a project to address this challenge by conducting extensive desk research involving over 50 sources. We convened a workshop with multidisciplinary experts in the field. This approach allowed us to review the existing taxonomy, prevalence, legislative and regulatory landscape, and emerging trends related to CFH. By mapping the system of existing initiatives, we gained valuable insights into potential intervention points.
Our research laid the foundation for Parent Zone and its consortium partners to develop evidence-based interventions over the next three years. By providing a holistic understanding of online CFH, including the roles of various stakeholders, prevalence, and regulatory frameworks, we empowered our clients to make informed decisions and drive meaningful change in safeguarding children’s financial well-being.