Who is responsible for rising online frauds: Tension rises between technology companies and banks in the UK – Times of India
Tensions are escalating in the U.K. as banks and payment companies grapple with social media firms over who should bear the cost of compensating victims of online fraud. Starting October 7, banks will be required to reimburse up to £85,000 to victims of authorized push payment (APP) fraud, a scam where criminals trick people into…