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If they implemented 2FA, there would be a huge drop in frauds. Since the banks rely on denying blame by blaming customer carelessness and making the client bear
by aurizon 6y ago
If they implemented 2FA, there would be a huge drop in frauds. Since the banks rely on denying blame by blaming customer carelessness and making the client bear this loss, often with high credit interest rates or loan fees, they would lose a lot of $$ by closing off this profitable aspect of their business. Doubt me? They are banks - never forget that.
- schappim 6y ago>> rely on denying blame by blaming customer carelessness and making the client bear this loss This very much depends on the type of customer. Consumers pretty much can have their banking password tattooed to their forehead and suffer no repercussions. If you're an online merchant, it will nearly always be your fault.
- aurizon 6y agoIn the USA the scammers are mature and the banks wary and use obsolete gear = lots of skimmers. Canada is wary, better tech, harder for skimmers
- tcbasche 6y agoI would say this is a little too cynical. Banks in Australia I would say are quite sensitive to fraud now given the recent royal commission. More likely is just that they don't care or understand the value of it, and most consumers don't care or understand the value of it.
- aurizon 6y agoYes, a little of the cynic exists in me about banks.
- AlEinstein 6y agoI once had my card skimmed while I was overseas. Westpac reversed all the transactions and sent me a new card.
- aurizon 6y agoThat was good on their part.