This is not as much of a problem as it is made out to be. The whole Europe runs on SEPA system of non-reversible direct debit transactions. Even if formally exi

This is not as much of a problem as it is made out to be. The whole Europe runs on SEPA system of non-reversible direct debit transactions. Even if formally exist ways to reverse transactions, I have never heard of anyone having used them. All transactions are considered final just like cryptos, and if you make a mistake (eg enter wrong account number) in a transaction, you need the receiving party to voluntarily send it back. There's no way to force the transaction. Fraud is kept under control by other means.