Revolut criticizes Meta's fraud-fighting approach
This is a U.K. news story, published by CNBC, that relates primarily to Meta news.
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Facebook parent company MetaCNBC
•Digital bank Revolut slams Meta over approach to scams, says tech giant should compensate victims
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Fintech firm Revolut criticizes Facebook parent company Meta over its approach to tackling fraud.
The U.K. financial technology firm said that Meta and other social media platforms should do their part to financially compensate those who fall victim to fraud on their sites.
New payment industry reforms will come into force on Oct. 7 that require banks and payment firms to issue victims of so-called authorized push payment fraud a maximum compensation of 85,000 .