Government must enforce social media fraud standards, says TPA

The Payments Association Calls for Urgent Action on Meta as Report Shows Digital Platforms’ Role in Fraud Crisis

The Payments Association, 03/31/26

Government must enforce social media fraud standards, says TPA

The government must act now to enforce anti-fraud standards on social media platforms, according to a trade body representing the payments sector. The Payments Association (TPA) has for some time now be calling for the burden for both tackling fraud and reimbursing its victims, currently placed heavily on the payments sector to be shared with social media platforms which act as the point of origin for most scams. TPA on Tuesday doubled down on i…

TPA Urges Government To Address Meta's Role In Fraud Crisis - Fintech InShorts: Latest Fintech News, Analysis By Experts

Trade body calls for urgent action to tackle rising online fraud linked to Meta platforms. Highlights: The TPA demands government intervention regarding Meta’s role in online fraud. Concerns rise as consumer vulnerability increases on Meta’s platforms. Urgent action needed to safeguard digital environments from fraud. The Trade Partnership Authority (TPA) has called for government action in response to the increasing online fraud crisis linked …

Banks paying cost of scams originating on social media

The Payments Association has warned that digital platforms such as Meta’s Facebook are a major gateway for authorised push payment (APP) fraud and has called for shared accountability across the fraud chain. In a new white paper entitled The New Origin of APP Fraud, the trade body argues that banks are currently bearing the financial burden of scams that often originate on social media platforms. The study is based on interviews with major finan…