Close Menu
FintechFetch
    FintechFetch
    • Home
    • Fintech
    • Financial Technology
    • Credit Cards
    • Finance
    • Stock Market
    • More
      • Business Startups
      • Blockchain
      • Bitcoin News
      • Cryptocurrency
    FintechFetch
    Home»Fintech»£7.4m Recovered, But Millions More Still Missing: wac Urges Government Action on Wage Theft Crisis
    Fintech

    £7.4m Recovered, But Millions More Still Missing: wac Urges Government Action on Wage Theft Crisis

    FintechFetchBy FintechFetchJuly 29, 2025No Comments5 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    wac, an hourly-paid work platform aiming to empower workers to receive fair pay, is urging the government to do more to ensure more employees are paid correctly and empowered to make a claim when they are not.

    In May 2025, the UK government announced that it had helped put a total of £7.4million back into the pockets of 60,000 workers who had been paid less than they were entitled to by their employers.

    On the face of it, the claim may appear like a rare success story. As part of the government’s ‘Plan for Change’, and in a move to ‘Make Work Pay’, it has managed to ensure that millions were rightfully returned to hardworking UK citizens, alongside naming and shaming 518 companies guilty of underpaying staff.

    However, George Fairhall, a champion of fair pay and founder of wac, warns that the announcement shouldn’t be framed as a win, because the recovered money is only a tiny proportion of the actual amount workers across the UK have already been underpaid, and will likely continue to be in the future.

    George Fairhall, founder of wac

    “£7.4million back in the pockets of UK workers is a good headline,” Fairhall explained. “But in reality, it’s a drop in the ocean. Our data shows that wage theft is more prevalent than ever, and only a small portion gets reported, let alone investigated. I think most businesses got off lightly.”

    Speaking to The Fintech Times, she explained that a wac survey of 21,000 users revealed that just under half (45 per cent) of its user base is being underpaid, largely due to misrecorded shifts, unpaid breaks, incorrect rates, or missing overtime. Contrast this with House of Commons Library research, which states that between four and nine per cent of UK workers are ‘likely underpaid’, and it’s clear there’s a disconnect between government findings and reality.

    Governmental failings

    According to the government’s release, the investigations by His Majesty’s Revenue and Customs (HMRC) concluded between 2015 to 2022. The fact that some firms have only recently been penalised for underpayment offences that occurred in 2015, as long as an entire decade ago, shows that something has to change.

    “It shouldn’t take nearly a decade for a worker to be repaid £100,” says Fairhall. “Most people never even realise they were short-changed unless they are tracking their hours. Most trust that their employers are doing the right thing, but this isn’t always the case.”

    Looking at the announcement itself, it’s hard to look past the fact that it is a bit of a wasted opportunity. It does not explain how any of the nearly 60,000 workers claimed their unpaid earnings, how they reported their case, and what evidence they provided to ensure a successful claim.

    Although it does recommend that those who suspect they are being underpaid contact the ACAS helpline, Fairhall revealed that a number of wac users who have contacted ACAS or Citizens’ Advice were simply told they can’t do anything to reclaim unpaid wages.

    Many millions more are also likely unaware of the announcement or the fact that they can dispute their pay. In fact, wac’s founder told us that, if all workers kept track, millions, if not tens of millions of workers, would realise they’re not being paid their due.

    Addressing the issue 

    To make companies more accountable, and to ensure that people are aware of this issue, wac is calling on the government to:

    • Shorten the time to investigate wage complaints
    • Fund awareness campaigns so workers know their rights
    • Work with experts, like wac, to provide users with more support and tools to keep track of their work

    In a move to protect employees, Fairhall launched wac in 2020, having experienced being paid incorrectly firsthand while working in the hospitality industry. The hourly-paid work platform enables workers to track their shifts, rotas, and pay, boasting a tax tracker that estimates tax, pension, and student loan deductions based on their earnings.

    The app also has a built-in location tracker to ensure freelancers and workers have extra proof of when they worked, with all relevant information used to create a unique shareable report.

    wac is also doing its bit to educate workers on their rights. Fairhall explained: “The app is offering educational support, which most people don’t normally have access to and aren’t taught in schools. We help explain why your payslip looks a certain way, what your tax is, what holiday pay you’re entitled to, what breaks you should get, and what the minimum wage is currently. We also offer customer service, so if they need to understand something, or something has happened that they need help with, we are there to help them work it out.”

    Growth plans

    So farr, wac has experienced rapid growth throughout the UK, reaching nearly 500,000 downloads. However, despite only marketing wac in the UK, the app has been downloaded in 130 countries worldwide, with organic growth showing across the US, Europe, and Australia, highlighting just how much of a global issue underpayments have become.

    Looking to the future, wac is exploring the potential of partnering with legal firms to ensure it is always providing accurate, up-to-date information for a number of regions. The team is also already in the process of integrating AI to provide individualised support to each user, offering a worker that can answer questions, help keep track of shifts, and organise their work details.

    • Tom Bleach

      Tom joined The Fintech Times in 2022 as part of the operations team; later joining the editorial team as a journalist.



      View all posts




    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleCybercrime Is Surging Across APAC Yet Defences Remain Fragmented
    Next Article Largest Publicly-Listed BNB Treasury To Launch In The US With $500 Million Raise
    FintechFetch
    • Website

    Related Posts

    Fintech

    Could Ethereum ETFs supercharge the next bull run?: By Prakash Bhudia

    July 30, 2025
    Fintech

    Data Driven Investment Manager – Unlock the value proposition through Data strategy: By Vishal Rodage

    July 30, 2025
    Fintech

    Pockit Rolls Out Income Advance Service to Monese Customers to Combat Unregulated Lending

    July 30, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Meta Fires 20 Employees For Leaking Information to the Press

    February 28, 2025

    Key Differences & Which One to Invest In

    March 3, 2025

    Half of Crypto Traders Believe AI Will Outperform Humans in Trading: Survey 

    April 27, 2025

    SMBC in Talks to Acquire 51% Stake in India’s Yes Bank, Sources Say

    May 7, 2025

    Is an ETH Surge Imminent?

    March 21, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    Most Popular

    SEC Delays Decision on Spot Ripple, Dogecoin ETF Applications

    April 30, 2025

    eToro Shares See Biggest Post-IPO Jump as Firm Registers Employee Share Plan with SEC

    May 25, 2025

    £10,000 invested in Raspberry Pi shares at the beginning of 2025 is now worth…

    April 2, 2025
    Our Picks

    [LIVE] ETH Price Rises As The Crypto Market Falls — MicroStrategy Keeps Accumulating Bitcoin: Best Crypto To Buy?

    July 30, 2025

    Ethereum ETF Inflows Soar in July, Outpacing Last 11 Months Combined

    July 30, 2025

    1 surging FTSE 100 bank to consider putting into a £20k Stocks and Shares ISA

    July 30, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Fintechfetch.comAll Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.