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ANALYSIS: EBA argues customers tricked by scammers into making 2FA payments should not automatically be denied refunds

ONINE FRAUD: The social media platforms must take more responsibility for online fraud, banks urged.

By Paul O Donoghue

The European Banking Authority (EBA) has said that customers tricked into making two-factor authentication payments should not automatically be denied refunds by payment service providers (PSPs).

The authority has issued an opinion looking at new types of payment fraud and possible ways of combating them.

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