Key Points U.K. banks must compensate APP fraud victims up to £85,000 from October 7. Tensions rise as banks call for social media firms to share financial responsibility for fraud compensation. Meta advocates for collaboration with banks through its FIRE initiative, resisting calls to bear financial liability. The debate on social media firms' responsibility for fraud compensation is ongoing. Tensions between U.K. banks, payment firms, and social media companies are escalating over who should be responsible for compensating online fraud...