Anti-Financial Crime & Financial Crime Compliance
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Banking, Financial Services, Fraud

NEWS: Revolut calls for Meta to share UK scam compensation costs, new rules come into force October 7

Woman holds smartphone with Revolut app in front of displayed Revolut logo in this illustration taken February 4, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

By Paul O’Donoghue, Senior Correspondent

Revolut has said Meta should help to pay compensation to scam victims, saying its current anti-fraud measures “simply aren’t good enough”.

The digital bank said Meta’s plans to tackle financial fraud on its platforms amount to “baby steps, when what the industry really needs is giant leaps forward.”

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