The chief executive of UK Finance, Stephen Jones, has proposed that consumers pay a levy on all payments to compensate victims of fraud, rather than banks footing the bill. Speaking to the Treasury Select Committee, Jones said he was in favour of a “tiny levy on each payment” so that "customers will pay if the banks have to pay. He added: "There’s no such thing as a free lunch here. It’s a question of how can the cost be fairly distributed across the system.” Jones believes a requirement for banks to compensate victims would “attract more fraud into the system” by giving criminals “very perverse incentives” to commit fraud. Recent figures from UK Finance show that in the first half of 2018, financial providers returned £30.9 million of the £145.4 million lost to authorised push payment scams, despite having no legal requirement to cover consumers for these losses. However many consumer groups and technology firms have criticised Jones' remarks, stating that the fault lies with banks' systems and that consumers should not be blamed.