You just know what will happen. This will be enacted, and the costs come out of bank profits. The banks, rather than see their profits diminsih and thus shareholder dividends, will put yet more steps in the way before you can actually do anything with your money.
Wouldn’t education be a better way? Teach people not to trust anyone who comes up to you and says “Your money is at risk, I have opened a new account just for you, all you need to do is move the money”?
I mean, if someone came up to you in the street and said “You are about to be mugged for your wallet/purse. Give me all your money and I will keep it safe for you”. Would you do that? OK, some people really would.
Banks are already required to pay out in cases where they were the ones negligent. Why should they pay for individuals’ misfortune, just because the person paid the scammers via the bank’s app? That’s like expecting Tesco to give you a free trolley of groceries because someone persuaded you you’d get an inheritance if you paid for their shopping.
Refunds for all? No way the scammers could exploit that! Scammer 1 sends money to scammer 2, scammer 1 then claims they were tricked and bank refunds – then scammer 1 and scammer 2 split the profits.
Every major bank has a thousand warnings before you make a transfer, as well as implementing the likes of Confirmation of Payee. At some point, people need to take some personal responsibility.
If I take a grand out cash and walking back from the branch lose it, get mugged etc they won’t refund me, why should it be different if I get mugged over the internet on my phone?
sounds like an incentive to just go all in on any scam without having to worry about consequences. maybe it really is that nigerian prince this time!
How about just teaching them not to be fucking idiots or being coached as well as training people to spot suspicious signs and to be wary of anyone buying oh I dunno, buying large gift cards while having their mobile with them connected to someone?
Educating and cutting off this scam is a better solution.
Want to spend half an hour answering questions just so you can get your own money???
7 comments
You just know what will happen. This will be enacted, and the costs come out of bank profits. The banks, rather than see their profits diminsih and thus shareholder dividends, will put yet more steps in the way before you can actually do anything with your money.
Wouldn’t education be a better way? Teach people not to trust anyone who comes up to you and says “Your money is at risk, I have opened a new account just for you, all you need to do is move the money”?
I mean, if someone came up to you in the street and said “You are about to be mugged for your wallet/purse. Give me all your money and I will keep it safe for you”. Would you do that? OK, some people really would.
Banks are already required to pay out in cases where they were the ones negligent. Why should they pay for individuals’ misfortune, just because the person paid the scammers via the bank’s app? That’s like expecting Tesco to give you a free trolley of groceries because someone persuaded you you’d get an inheritance if you paid for their shopping.
Refunds for all? No way the scammers could exploit that! Scammer 1 sends money to scammer 2, scammer 1 then claims they were tricked and bank refunds – then scammer 1 and scammer 2 split the profits.
Every major bank has a thousand warnings before you make a transfer, as well as implementing the likes of Confirmation of Payee. At some point, people need to take some personal responsibility.
If I take a grand out cash and walking back from the branch lose it, get mugged etc they won’t refund me, why should it be different if I get mugged over the internet on my phone?
sounds like an incentive to just go all in on any scam without having to worry about consequences. maybe it really is that nigerian prince this time!
How about just teaching them not to be fucking idiots or being coached as well as training people to spot suspicious signs and to be wary of anyone buying oh I dunno, buying large gift cards while having their mobile with them connected to someone?
Educating and cutting off this scam is a better solution.
Want to spend half an hour answering questions just so you can get your own money???