Spotify failed and continues to fail to verify the provenance of the music on their platform. They also routinely allow bedroom EDM and trap producers to associate their releases with older artists just because they have the same name. If they have hundreds of millions of dollars to sign podcasters to exclusive deals then they certainly have the resources to respond to these egregious cases of misclassification. Unfortunately their report submission system will only allow this class of problem if you can verify that you're the copyright holder. This therefore means (unless I'm missing something) that it's easier to submit fraudulent music than it is to take it down.

Do not shift blame here. Spotify is actively complicit in this. Hell, they could sic a few crafty data scientists on this and build an ML model to weed these bad tracks out. It'd be great PR for them ("we're saving artists from stolen revenue and preserving the sanctity of their work") and would be a novel contribution to the field of fraud prevention. The problem is that they're not incentivized to do so.

And, by the way, card transaction fees exist to cover the exact case you're talking about. Card companies make you whole in the case of fraud.