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@JohnBertrand: 

TY for your detailed reply. 

At the point of making a payment, if a bank refuses to execute the payment, I can bet that 9 out of 10 customers will tell the bank "It's my money, I'll do whatever I want". It's only when they get scammed that, upon hindsight, they'd wish that they'd heeded the bank's warning.

Likewise, at the point of running the ad, the social media company has no way to decide that it's fake. Again, it's only upon hindsight that such a verdict can be reached.

You say "blamed" as though it's a crime. The scammee / scammed are indeed blameable. I see nothing wrong about banks blaming them.

I don't know about other jurisdictions or what may happen in future but, the law (Reg E), as it stands, is clearly on the side of American banks.

Let me add one more proposal to the mix:

Three Strike Rule To Eliminate Cybercrime.

My company is currently running a marketing campaign targeted at US banks to convert their credit card outstandings to BNPL. At the height of pure-play BNPL mania last year, this seemed too conservative an approach. But, with the burst of the BNPL bubble this year, it seems to be prudent in hindsight! After all, credit card spends are already subject to rigorous credit checks, so the BNPL loans via credit card conversion are likely to have better repayment rates than pureplay BNPL loans, which are already showing higher default rates.

Notwithstanding the attempts of Online P2P Lenders and pureplay BNPLs to undermine its validity through the years, the old maxim that it's easy to lend but difficult to collect seems to hold good even in modern times.

One of the great features I loved about the defunct Amazon Fire Phone was Mayday: Click a button and get connected to an Amazon CSR. Since its demise nearly 10 years ago, I've never come across the likeness of this feature from any other brand.

Good to hear that NAB is planning to launch something like Mayday. Also hope it adequately staffs the said contact center: Technology to automatically connect callers to availale CSRs have been around for at least 30 years, the key issue is always whether the brand is willing to incur the cost of staffing its contact center with the right quality and quantity of human agents.

@GianMahil: TY for your kind words. 

Customers get that cost shouldn't be the only criteria for deciding where to outsource software development to but it's not like they always got high quality when they outsourced to high cost destinations.

There are as many Tier 1 implementation partners from Developed / High Cost countries involved in ERP Horror Stories as Tier 2 or 3 ones from Emerging Market / Low Cost countries. 

Not sure if that was the intention but, by singling out  low cost development destinations for low quality software, your post sounds borderline racist.

Cool.

In the absence of third-party cookies, data broker / enricher is one more avenue for brands to source data in order build out customer profiles.

I've heard of services that provide 70+ datapoints around demographics / psychographics / firmographics per individual / company based only on an email address e.g. RapLeaf, Clearbit.

PS: Such services may not be legal in some jurisdictions. As such, this is not legal or marketing advice.

I'm rooting for US banks to block the potential extension of Reg E to authorized payments.

There's no reason why shareholders of banks should cough up to compensate bank customers whose negligent actions are responsible for causing the scams in the first place.

Fraud v Scam: Who Is Liable For Cybercrime

AFAIK, Google is only removing THIRD PARTY cookies from Chrome. Not first party cookies. 

Have you heard of Overdraft Protection Fees and Cardlytics?

Overdraft Protection Fees would explain why a bank will NOT want to offer a discount on personal loan.

Cardlytics would explain how 2000 US banks are already making Targeted Offers based on transaction history.