Policy & Ethicsai fraud detectionelectronic paymentsfraud preventionregulation
Banks Face Calls To Share Fraud Liability
|
5.1
Prof. Michelle Kelly-Louw of the University of Cape Town warns that South African banks and existing laws inadequately protect customers from electronic payment fraud, noting gaps in EFT regulation and intercepted OTPs. She urges statutory duties for banks, clearer AI fraud-detection rules, and adoption of shared-liability frameworks like those in the UK, EU, Singapore, and Australia. Implementing funding mechanisms and industry standards would shift risk and improve consumer restitution.
Scoring Rationale
Moderate novelty and policy relevance, limited to South African legal context and single-expert perspective, lacking broader evidence.
Practice with real Payments data
90 SQL & Python problems · 15 industry datasets
Used by DS/ML engineers at top companies
250 free problems · No credit card
See all Payments problems
