Money expert urges Ofcom be given more powers as interview with chancellor used to trick people to share bank details

• UK politics live – latest updates

Martin Lewis has warned of a “wild west” of online scams after criminals used a fake interview with Rachel Reeves to trick consumers into sharing their bank details ahead of the budget.

The Guardian spotted an online advert from an outfit calling itself “Quantum AI” designed to look like a BBC News article covering an interview with the chancellor. The advert was headlined: “By order of Rachel Reeves, UK residents will start receiving income from taxes.” It purported that people could receive £2,300 payouts if they applied early.