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Paper records can't be remotely hacked, accessed, and deleted. Most finance people I know operate digitally but archive using paper. Vint Cerf, an integral fig

Paper records can't be remotely hacked, accessed, and deleted. Most finance people I know operate digitally but archive using paper. Vint Cerf, an integral figure in internet lore, fears that much of the knowledge gained in the 21st century will eventually be lost due to our inability to preserve and reformat digital data[0]. Going fully digital has its costs too. [0]: https://www.bbc.com/news/science-environment-31450389 https://www.bbc.com/news/science-environment-31450389

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sandworm101 7y ago
I know such people too. The problem is that when things go south, those paper backups mean next to nothing. No bank is going to ever use your paper reciepts to correct something electronic.
- JumpCrisscross 7y ago
  > No bank is going to ever use your paper reciepts to correct something electronic What's your basis for this? Attaching a copy of paper documents to formal requests is routine. Those original receipts, furthermore, are admissible as evidence in court.
  - sandworm101 7y ago
    Ya, but the bank doesnt accept the paper. The court accepts the paper (with associated witnesses) and the bank accepts the court order. There are just too many cases of fraud involving paper. Waving a balance statement in front of a bank manager will get you nowhere.
    - stcredzero 7y ago
      The court accepts the paper (with associated witnesses) and the bank accepts the court order. This would contradict your earlier assertion, "No bank is going to ever use your paper reciepts to correct something electronic." There are just too many cases of fraud involving paper. Having a paper trail is still worth more than just someone's word. Waving a balance statement in front of a bank manager will get you nowhere. My wife is an underwriting manager. She has had someone try to apply to her bank for a loan using screenshots of bank web-apps. It did get that one potential customer nowhere, in the end. That said, there are some customers of her bank that have corrected the bank using paper documentation. I've even heard of businesses that lost records, asking for copies of printed customer statements to help reconstruct their data. The world used to run on paper records. They still mean something in 2019.
- tathougies 7y ago
  > No bank is going to ever use your paper reciepts to correct something electronic. Sure they will. When the court orders them to, they will have to.
  - sneak 7y ago
    Pray you never have occasion to be in court with a major consumer bank in the USA.
    - tathougies 7y ago
      Case law on these matters is very clear. They're not going to argue. I'll admit to not ever going to court with a bank, but I had several spats with Bank of America over money in several old accounts from when they bought out Security Pacific (I became treasurer of an old mutual benefit corporation). Lawyers even got involved, but the fact is, they cannot refuse to acknowledge a duly signed contract or not obey notes they issued. That is the law, and it is very clear.
- bdamm 7y ago
  I know of a case where a banking system was corrupted due to a software problem, and account transactions were re-built by using paper receipts. Now granted this was ~1995 era, but as far as I know, banking mainframes haven't changed much since then.
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sandworm101 7y ago

I know such people too. The problem is that when things go south, those paper backups mean next to nothing. No bank is going to ever use your paper reciepts to correct something electronic.

JumpCrisscross 7y ago
> No bank is going to ever use your paper reciepts to correct something electronic What's your basis for this? Attaching a copy of paper documents to formal requests is routine. Those original receipts, furthermore, are admissible as evidence in court.
- sandworm101 7y ago
  Ya, but the bank doesnt accept the paper. The court accepts the paper (with associated witnesses) and the bank accepts the court order. There are just too many cases of fraud involving paper. Waving a balance statement in front of a bank manager will get you nowhere.
  - stcredzero 7y ago
    The court accepts the paper (with associated witnesses) and the bank accepts the court order. This would contradict your earlier assertion, "No bank is going to ever use your paper reciepts to correct something electronic." There are just too many cases of fraud involving paper. Having a paper trail is still worth more than just someone's word. Waving a balance statement in front of a bank manager will get you nowhere. My wife is an underwriting manager. She has had someone try to apply to her bank for a loan using screenshots of bank web-apps. It did get that one potential customer nowhere, in the end. That said, there are some customers of her bank that have corrected the bank using paper documentation. I've even heard of businesses that lost records, asking for copies of printed customer statements to help reconstruct their data. The world used to run on paper records. They still mean something in 2019.
tathougies 7y ago
> No bank is going to ever use your paper reciepts to correct something electronic. Sure they will. When the court orders them to, they will have to.
- sneak 7y ago
  Pray you never have occasion to be in court with a major consumer bank in the USA.
  - tathougies 7y ago
    Case law on these matters is very clear. They're not going to argue. I'll admit to not ever going to court with a bank, but I had several spats with Bank of America over money in several old accounts from when they bought out Security Pacific (I became treasurer of an old mutual benefit corporation). Lawyers even got involved, but the fact is, they cannot refuse to acknowledge a duly signed contract or not obey notes they issued. That is the law, and it is very clear.
bdamm 7y ago
I know of a case where a banking system was corrupted due to a software problem, and account transactions were re-built by using paper receipts. Now granted this was ~1995 era, but as far as I know, banking mainframes haven't changed much since then.

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