Monica Comments on Facebook Fraud Scandal for St. Pete Catalyst

Chargebacks911® Executive Says Lack of Consistent Regulation is Core of Problem

While in London to accept her Global Leader of the Year title from the Women in IT Awards, Monica found the time to provide her thoughts on the most recent scandal to rock Facebook.

The Catalyst is a new and up-and-coming new source in the Tampa Bay area. The Catalyst aggregates and curates “the sparks that propel the St. Pete engine” for thousands of daily readers. Monica was happy to take a few minutes to speak with staff on this important news story.

Facebook came under fire last week for effectively instructing game developers on their platform to knowingly dupe players, primarily children, out of money spent in-game. Facebook obviously holds a lot of power in the marketplace. But, as Monica explains in the piece, this issue is much, much bigger than just one company.

“Every big digital company is marketing to minors,” Monica explains. “These are the people who are using technology and parents are not making sure the right precautions are in place.”

The problem affects everyone, as dissatisfied customers turn around and commit friendly fraud to recover their funds. Monica suggests the key lies in education for businesses and consumers, plus more dynamic standards and regulations.

“There should be a neutral party with government endorsement to come up with realistic thresholds and best practice standards that can be adopted and are made for the trading world that we know today, instead of something that existed 20 years ago,” she says.