Platforms including Meta and TikTok will be held liable for financial fraud for the first time under new rules agreed by EU lawmakers. As a compromise, lawmakers agreed that banks should reimburse victims if a scammer, impersonating the bank, swindles them out of their money, or if payments are processed without consent, but social media companies will have to compensate banks if it’s clear that they failed to remove an online scam that had been reported.
Read the article: Politico
