EU lawmakers agree on new rules that hold platforms like Meta and TikTok liable for financial scams that have been reported, requiring them to compensate banks
Update Trader Edge / Blockonomi : Alphabet (GOOGL) Stock: Google Drops Microsoft Fight as EU Launches Cloud Crackdown Philip Blenkinsop / Reuters : EU members seek safeguards in US tariff deal to protect industry Morten Løkkegaard / Morten Løkkegaard on Facebook : [Translated] Historic: We're taking a stand against the digital fraud industry. … Morten Bødskov / Council of the EU : Payment services: Council and Parliament agree to step up the fight against fraud and increase transparency Times of India : Europe okays new rules for online fraud protection and data hacking: What the ‘Payment services deal’ says MLex : Revised payment services rules agreed by EU lawmakers, member states Renew Europe : This website uses cookies Craig Hale / TechRadar : EU clamps down on online fraud and hidden fees affecting online payment platforms Alessandro Parodi / Reuters : EU agrees on new rules for online fraud protection CCIA : Payment Rules: EU Council Backs Flawed Fraud Liability Plan of MEPs X: @reginado : Great to see agreement reached overnight on a new EU law to include greater action on online fraud and scams. Liability to now also include online platforms, and better verification of online financial services. Looking forward to the final details. https://www.europarl.europa.eu/ ... Roberta Metsola / @ep_president : Great news for European consumers as @Europarl_EN and @EUCouncil struck a deal on the Payment Services Regulation and the Third Payment Services Directive. New rules that will strengthen protection against fraud and make fees more transparent. Thanks to @EP_Economics Chair Aurore Lalucq / @aurorelalucq : 👏🚨1.25 am deal for the ECON committee! Parliament and Council have struck a deal on a more open and competitive EU payment services sector, with strong defences against fraud and data breaches. Congrats to the rapporteurs Repasi and lokkegaard. [image] @reneweurope : ✅ Deal on payment rules: significant strengthening of anti-fraud measures! @Loekkegaard_MEP: “Consumers will now have the right to compensation when they fall victim to spoofing fraud.” Read more 👇 https://www.reneweuropegroup.eu/ ... [image] LinkedIn: Isak Penttila : The EU agreement on #PSR and #PSD3 sets a clear direction for the future of payments in Europe: — 👉 Stronger measures to fight payment fraud. … Arno Voerman : 🚀 Two days after the 10th birthday of PSD2 a EU payment services deal for PSR and PSD3 was made! … Pierre Paul Gauci : The EU deal on payment services brings PSD3/PSR closer than ever. — 2026 planning should start reflecting the regulatory changes ahead! … Susan Russell : Bank of Ireland welcomes the political agreement reached last night between EU Member States and the EU Parliament on new rules to clamp … Aurore Lalucq : 👏🚨1.25 am deal! — Parliament and Council have struck a deal on a more open and competitive EU payment services sector, with strong defences against fraud and data breaches. … Banking & Payments Federation Ireland : Banking & Payments Federation Ireland welcomes the provisional agreement reached by the Council of the European Union and the European Parliament yesterday … Regina Doherty MEP : Good to see agreement reached overnight on new EU rules to crack down on online #fraud and #scams as part of the new Payment Services Regulation. … Bluesky: Uncle Joe / @sydseter.com : Social Media Giants and Payment Services will be held liable for reimbursing victims of financial scams. This basicly means they will be come liable for fraudulent ads published through their services. www.europarl.europa.eu/news/en/ pres... @pileofgarbage.net : Good. They absolutely have the ability to curb that shit but won't because that costs money. www.politico.eu/article/soci... @alderik : “lawmakers agreed that banks should reimburse victims if a scammer, impersonating the bank, swindles them out of their money [..] 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.” www.politico.eu/article/soci... @socialmedialab.ca : This is huge: under new EU law, “social media companies will have to compensate banks if it's clear that they failed to remove an online scam that had been reported.” www.politico.eu/article/soci... Forums: Msmash / Slashdot : Social Media Giants Liable For Financial Scams Under New EU Law
Context & Ripple Effects
The agreement follows pressure for platforms to vet financial advertising, including a member-state push for scam-ad screening earlier this year. It moves the policy debate from prevention expectations toward explicit allocation of losses when a reported scam remains online.
It also extends a regulatory arc in which the DSA required major services to change core operating practices, including user controls over profiling-based recommendations. Banks and consumer advocates had already pressed Meta over fraud losses in the UK.
First-order effects
- Meta, TikTok and other covered platforms face a direct compensation exposure when they clearly fail to remove a reported financial scam; scam-report handling and removal decisions become financially consequential.
- Banks must reimburse victims of spoofing fraud in which criminals impersonate the bank, shifting some losses away from consumers while creating a defined route to recover from non-compliant platforms.
Second-order effects
- Platforms and banks will need tighter reporting, evidence-sharing and case-resolution processes to establish whether a scam was reported and whether removal was timely.
- The prospect of reimbursement claims gives platforms a stronger commercial incentive to scrutinize financial-scam distribution, reinforcing the earlier bank-led pressure on Meta to prevent fraud across Facebook, Instagram and WhatsApp.
Third-order effects
- If implemented consistently, the rules could establish distribution-layer liability as a complement to conduct rules: intermediaries would bear part of the cost when preventable fraud remains in their systems.
- The approach may push platform safety operations toward auditable, risk-based enforcement, though its reach will depend on how authorities interpret clear failure to remove and apportion responsibility among parties.
The trend: European digital regulation is increasingly tying platform governance obligations to concrete financial consequences for harms distributed through major online services.