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Banks and tech companies at odds over online fraud liability in UK [Video]

Meta is facing calls from U.K. banks and payment firms like Revolut to financially compensate people who fall for scams on their services.

Jaap Arriens | Nurphoto via Getty Images

Tensions are escalating between banking and payment companies and social media firms in the U.K. over who should be liable for compensating people if they fall victim to fraud schemes online.

Starting from Oct. 7, banks will be required to start compensating victims of so-called authorized push payment (APP) fraud a maximum £85,000 if those individuals affected were tricked or psychologically manipulated into handing over the cash.

APP fraud is a form of a scam where criminals attempt to convince people to send them money by impersonating individuals or businesses selling a service.

The £85,000 reimbursement sum could prove costly for large banks and payment firms. However, it’s actually lower than the mandatory £415,000 reimbursement amount that the U.K.’s Payment Systems Regulator (PSR) had previously proposed.

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Neighbors react to Plattsburgh man charged in the deaths of missing mother and daughter [Video]

TONIGHT... A NORTHERN NEW YORK MAN IS IN JAIL. ACCUSED OF MURDERING TWO WOMEN. IN A PLATTSBURGH NEIGHBORHOO D. 50-YEAR-OLD JOE HEWETT IS ACCUSED OF KILLING THE MOTHER AND DAUGHTER WHO WERE REPORTED MISSING LAST THURSDAY. POLICE SAY HE'S THE BOYFRIEND OF ONE OF THE VICTIMS. THEIR DEATHS ARE BOTH BEING RULED AS HOMICIDES. NBC 5'S BENNY NEZAJ HAS BEEN FOLLOWING THIS CASE FOR DAYS. HE JOINS US FROM OUR PLATTSBURGH STUDIO WITH THE VERY LATEST. BENNY... BRIAN AND LIZ - JOE HEWETT WAS ARRAIGNED LAST NIGHT FOR HIS ALLEGED INVOLVEMENT IN THE DEATHS OF 42-YEAR-OLD MIRANDA WADE AND 62-YEAR-OLD KAREN LINDSAY. BUT NEIGHBORS OF THE VICTIMS ARE STILL FEELING THE IMPACT OF THIS TRAGEDY. BARBARA BLAKE NEIGHBOR 06;19;40;27 - 06;19;43;23 "I'm very shocked. Very surprised." BARBARA BLAKE LIVES ACROSS THE STREET FROM 2 BIRCH STREET - where KAREN LINDSAY AND and her daughter MIRANDA WADE lived. BLAKE SAYS SHE GAVE WADE A RIDE ONE TIME THROUGH HER TAXI BUSINESS. WHILE THEIR INTERACTIONS WERE LIMITED, SHE PROMISED TO ALWAYS BE THERE FOR HER BARBARA BLAKE/ NEIGHBOR 06;24;23;18 - 06;24;35;18 "You're sweet person. If you ever need anything, come to my house. You ever need a ride? Call me. I'll be there within a few minutes. It takes me 5 to 10 minutes to get to any person that calls me. I said I'll help you any which way." the two women had not been seen since early December when loved ones reported them missing on December 12th. state police learned there was a fire at Wade and Lindsay's mobile home on Sunday. THEIR REMAINS were FOUND ON MONDAY IN THE SURROUNDING AREA. CLINTON COUNTY DISTRICT ATTORNEY ANDREW WYLIE SAYS INVESTIGATORS BELIEVE BOTH WOMEN DIED ON DECEMBER 5TH. Wylie CALLS THE NATURE OF THEIR DEATHS UNPRECEDENTED. ANDREW WYLIE/ DISTRICT ATTORNEY, CLINTON COUNTY 19;58;14;13- 19;58;23;13 wylie an autopsy report says WADE died from BLUNT FORCE TRAUMA AND LINDSAY was strangled TO DEATH. authorities found their BODIES IN BLACK GARBAGE BAGS. ANDREW WYLIE DISTRICT ATTORNEY, CLINTON COUNTY 19;51;55;23 - 19;52;10;27 "A lot of times in these cases, it's domestic related. We haven't been able to finalize domestic related." BUT AS THE INVESTIGATION CONTINUES TO UNFOLD, BLAKE'S THOUGHTS ARE WITH THE VICTIM'S FAMILIES. BARBARA BLAKE NEIGHBOR 06;26;58;01 - 06;27;10;28 "I want the family to have all the healing and the right that they need help. Reach out to somebody. Don't go doing something stupid yourself because you're depressed because of this. Please go get help. There's help out there." Hewett is expected to appear in COURT again ON JANUARY 7TH. the case is expected to be handed over to a grand jury next month. LIVE IN THE PLATTSBURGH STUDIO. BENNY NEZAJ. NBC5 NEWS THERE WILL BE A COMMUNITY GATHERING AND VIGIL THIS FRIDAY. AT THE WILLSBORO TOWN HALL. TO HONOR WADE AND LINDSA