Tech companies should help to reimburse the victims of social media purchase scams, bosses at Barclays have said. It comes as data from the bank revealed a jump in the number of social media scams affecting British shoppers. Purchase scams, where people buy good which never arrive or are not as advertised, now account for two thirds of all reported scams, according to the research. Barclays said that 88% of these scams, which cause victims to lose £1,000 on average, start on social media platforms. The bank has called for more to be done in order to prevent these scams, demanding further action from social media companies and politicians. It has called for a victim reimbursement fund to be financed by all firms whose systems and platforms are used to perpetrate scams, including tech companies and banks, as part of four recommendations. Currently victims are only reimbursed by funding from banks, Barclays said. The banking giant also called for the creation of a cross-Government group within the Home Office to deal with the issue in order to coordinate regulators, policy makers, industry groups, and companies across different sectors. The prevention of scams should also be made mandatory, particularly for tech companies, in a shift from current voluntary measures, it added. Barclays also urged the Government to make organisations publish their scams data in order to inform consumers of the risks involved in using their platforms. Matt Hammerstein, chief executive officer of Barclays UK, said: “With so much of everyone’s lives now being online, from staying connected with friends and family, to shopping, it’s important that people feel safe on the platforms they use. “Our data shows that tech platforms, particularly social media, are now the source of almost all scams. “However, there is no current legislative or regulatory framework obliging the tech sector to support the prevention of these crimes, as there rightly is for banks. “We can only drive back this epidemic, and protect UK competitiveness, by stopping scams at their source, preventing the flow of funds to organised crime.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Hozier would consider striking over AI threat to music industry Snapchat experiences ‘temporary outage’ as My AI chatbot posts own Story Crime victims’ data revealed by two police forces in FoI responses

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If you found water that was more than two billion years old, would your first instinct be to drink it? One scientist did exactly that after finding the oldest water ever discovered on the planet. A team from the University of Toronto, led by Professor Barbara Sherwood Lollar, came across an incredible find while studying a Canadian mine in 2016. Tests showed that the water source they unearthed was between 1.5 billion and 2.64 billion years old. Given that it was completely isolated, it marked the oldest ever found on Earth. Sign up to our free Indy100 weekly newsletter Remarkably, the tests also uncovered that there was once life present in the water. Speaking to BBC News, professor Sherwood Lollar said: “When people think about this water they assume it must be some tiny amount of water trapped within the rock. “But in fact it’s very much bubbling right up out at you. These things are flowing at rates of litres per minute – the volume of the water is much larger than anyone anticipated.” Discussing the presence of life in the water, Sherwood Lollar added: “By looking at the sulphate in the water, we were able to see a fingerprint that’s indicative of the presence of life. And we were able to indicate that the signal we are seeing in the fluids has to have been produced by microbiology - and most importantly has to have been produced over a very long time scale. “The microbes that produced this signature couldn’t have done it overnight. This has to be an indication that organisms have been present in these fluids on a geological timescale.” The professor also revealed that she tried the water for herself – but how did it taste? “If you’re a geologist who works with rocks, you’ve probably licked a lot of rocks,” Sherwood Lollar told CNN. She revealed that the water was "very salty and bitter" and "much saltier than seawater." Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

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