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From far-right influencers on social media platforms to sensationalist newspaper headlines, the Hate Economy is on the rise. We’re fundraising for our project to expose who is profiting from the spread of hate, and who is being targeted the most. Any donation you can spare, no matter how big or small, will go towards this vital work.
Frankie Goodway,
Saturday Editor
Hello there. It’s the last Uncovered from me for a couple of weeks as I take a long-overdue holiday. However, never fear – you’ll be in the capable hands of Katie Mark, and there’s also a crop of brilliant stories coming your way.
Still, I’ll miss getting your feedback and replies while I’m off. Consider this a chance to get some in before I go!
Legally distinct… but tied by millions in commissions?
When it responded to our influencers story earlier this month, Vantage UK was keen to stress it was an entirely separate entity to Vantage’s international website, based in Vanuatu. After all, UK customers being funnelled to that platform, or any of Vantage’s other offshore entities, by their favourite influencers would not have been protected by our financial rules. But despite the denial, we uncovered deep links between Vantage UK and the Cayman Islands arm of the brand – including millions of pounds of fees moving between the two, and the Cayman company funding ads on Google for the UK website.
⚡ Immediate impact
When we got in touch with Google about the ads, the tech giant reviewed them and removed ones that violated its policies. (Risky financial products have to be offered by a UK-regulated entity, which the Cayman Island business is not.) Hopefully that keeps a few UK consumers away from a platform with fewer protections.
Vantage’s own website also underwent a couple of edits when we asked for comment – which is less impactful, maybe, but quite funny.
⚡ Impact this week
After we started investigating illegal children’s homes – and the horrors that kids were enduring inside them – Ofsted took note. Responding to our investigation in April, Bridget Phillipson (then the education secretary) said “the days of our most vulnerable young people being forced into dangerous accommodation must and will end”. Ofsted announced a crackdown on illegal providers, including criminal charges. Earlier this month, the watchdog announced its first successful prosecution. It wasn’t one of the providers we’ve covered – but it’s a start.
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What we’ve been reading
🔴 The Post Office is being used to launder millions of pounds in proceeds from organised crime theguardian.com
🔴 Online abuse – from digital harassment to “revenge porn” – is now a factor in two fifths of domestic killings observer.co.uk
🔴 Among the many tributes to Dolly Parton this week, this one celebrates her contribution to science through funding research, vaccines and public health nature.com
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