Mark Zuckerberg's Meta Asked To Foot The Bill Partly In Fraud Cases By UK Fintech: 'These Platforms Share No Responsibility'

U.K.-based fintech company Revolut has called on Mark Zuckerberg-led Meta Platforms Inc. (NASDAQ:META) to help cover the costs of reimbursing victims of fraud.

What Happened: On Thursday, Woody Malouf, Revolut’s head of financial crime, dismissed Meta’s initiative to “launch a data-sharing partnership with U.K. banks and financial institutions to prevent fraud,” calling it insufficient.

Malouf argued that tech platforms like Meta bear no responsibility in reimbursing victims, thus lacking incentive to tackle the issue.

“These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. A commitment to data sharing, albeit needed, simply isn't good enough,” he stated.

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