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A recent survey reveals that 28% of UK adults have encountered AI voice cloning scams, with 46% unaware of their existence. Scammers exploit social media to replicate voices, leading to urgent money requests. Starling Bank advocates for 'safe phrases' to combat this growing threat as financial fraud cases rise significantly.
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Starting October 7, UK banks will be required to reimburse customers up to £85,000 for losses from fraud, following a significant rise in authorised push payment scams. This new cap replaces a previously proposed limit of £415,000, aiming to provide consistent support for victims while addressing industry concerns.
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The U.S. Department of Justice filed a lawsuit against Visa, alleging the company unlawfully monopolized the debit card market. The complaint claims Visa imposes unfair fees and penalties on merchants and banks that do not use its payment processing technology, affecting consumer prices nationwide.