Robin Bulloch, the TSB chief executive, said he was “deeply concerned” by the high levels of fraud on Meta’s sites. He said: “As the only bank with a fraud refund guarantee, we have unrivalled insight on this issue and it is tragic to see UK households lose life-changing sums every day due to insufficient protection on Meta platforms.

Victims speak out over ‘tsunami’ of fraud on Instagram, Facebook and WhatsApp

Only one solution to this. Legislate to make Meta responsible for all losses plus damages.