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Big banks want social media firms to take accountability for scams taking place on their payment platforms, but that doesn’t mean reimbursing victims. Banks need to take the lead in making victims whole quickly. Big tech and telcos need to kick out the scammers from their platforms.
U.K. banks will soon have to reimburse customers who fall prey to authorized push payment scams. The U.K.'s Payment Systems Regulator recently released a policy
U.K. banks will soon have to reimburse customers who fall prey to authorized push payment scams. The U.K.'s Payment Systems Regulator recently released a policy
The UK watchdog for payment systems unveiled new obligations for lenders and payments outfits with a view to helping more victims of Authorised Push Payment fraud to recover their funds.
Barclays was fined for failing to provide retailers with adequate transaction information, leaving retailers unable to easily understand the fees associated with certain types of card payments.