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Top related persons:
Meta - 2 Woody Malouf - 2 Jaap Arriens - 1 it's - 1 Matt Akroyd - 1 Kate Fitzgerald - 1 Rob Jones - 1 Jones - 1
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London U.S Meta
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NatWest - 2 Metro Bank - 2 CNBC - 2 Meta - 2 Nurphoto - 1 Getty - 1 Systems - 1 PSR - 1

Search resuls for: "Malouf"


3 mentions found


☆ Tensions rise between banks and tech companies over online fraud liability in the UK
  + stars: | 2024-10-07 | by ( Ryan Browne | ) www.cnbc.com   time to read: +6 min
Meta is facing calls from U.K. banks and payment firms like Revolut to financially compensate people who fall for scams on their services. Proposals to make tech firms liableTensions have been running high between banks and tech companies for some time. A key ask has been for the tech firms to share more detailed intelligence on how criminals are abusing their platforms. Social media firms not doing enough to combat and remove attempts to defraud internet users was another complaint from regulatory authorities at the event. Jones added that it was tough to "break the inertia" at tech companies to "really get them to get after it."
Persons: Jaap Arriens, it's, Meta, Woody Malouf, Matt Akroyd, Kate Fitzgerald, Rob Jones, Jones Organizations: Nurphoto, Getty, Systems, PSR, Payments Association, Facebook, NatWest, Metro Bank, Financial Times, Labour Party, CNBC, Stewarts, Social, Economic Crime, U.K, National Crime Agency, Tech, Meta, Intelligence Locations: London
☆ Digital bank Revolut slams Meta over approach to scams, says tech giant should compensate victims
  + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
British financial technology firm Revolut on Thursday criticized Facebook parent company Meta over its approach to tackling fraud, saying the U.S. tech giant should directly compensate people who fall victim to scams via its social media platforms. In a statement, Woody Malouf, Revolut's head of financial crime, said that Meta's plans to tackle financial fraud on its platforms amount to "baby steps, when what the industry really needs is giant leaps forward." "These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. Britain's Payments System Regulator had previously recommended a £415,000 maximum compensation amount for fraud victims, but backed down following backlash from banks and payment firms. The fintech firm published a report Thursday alleging that 62% of user-reported fraud on its online banking platform originated from Meta, down from 64% last year.
Persons: Revolut, Woody Malouf, Malouf, Meta, Revolut's Malouf, WhatsApp Organizations: Facebook, Meta, NatWest, Metro Bank, CNBC, Regulator, Consumer Security Locations: U.S, Meta
☆ Ajay Banga: Indian American businessman is the new president of the World Bank
  + stars: | 2023-05-03 | by ( ) edition.cnn.com   time to read: +4 min
The election came after World Bank board members interviewed Banga for four hours on Monday. Biden congratulated Banga on his “resounding approval” to run the World Bank, which he described as “one of humanity’s most critical institutions to reduce poverty and expand prosperity around the globe.”“Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President,” Biden said. “It is a challenging moment, but it’s a moment where the World Bank remains more vital than ever, and where getting the evolution of the World Bank is absolutely critical,” the official said. “The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process … on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries,” the bank said. The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European.
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