Report: Revolut Calls on Meta to Compensate Victims of Fraud on Its Social Media Platforms
Thursday, 03/10/2024 | 17:36 GMT by Jared Kirui
- The fintech giant criticized Meta’s recent partnership with UK banks as inadequate. New UK regulations will require banks and payment providers to compensate victims of authorized push payment fraud.
CNBC reported that
Revolut
The fintech company is insisting that Meta provide compensation for users scammed on its platforms. This demand follows a new partnership between Meta and UK banks aimed at enhancing fraud protection. However, Revolut has expressed dissatisfaction with this initiative…
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The Cyprus Securities and Exchange Commission (CySEC) acknowledged last month that social media scams are an escalating issue, prompting the launch of a campaign to inform investors about the associated risks of online investing. This action was taken in light of rising incident reports surrounding these scams.
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, reflecting concerns that younger demographics increasingly see social media as a trustworthy source for financial guidance…
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