If you put more effort into prevention, thieves are going to put more effort into circumventing said protection. Without some kind of safety net, people are goi

If you put more effort into prevention, thieves are going to put more effort into circumventing said protection. Without some kind of safety net, people are going to be stolen from and really get hurt. As for net benefit to society, it's not the first thing I'm thinking of when I've had my credit card skimmed. What I'm thinking is, thank goodness there's some modicum of protection for me and I haven't been wiped out with no recourse, which could be the case with crypto. Is it good for the consumer to have these protections? I think people would much rather have the safety net of the financial institution and maybe need to pay a passed on fee at a merchant than not pay a fee and risk being completely drained of funds. Is it good for banks? Not really, I think? Regardless of whether they're writing it off on taxes, it's still money that's leaving their hands. That does leave the point about them being able to dodge taxes, but, if there's one thing corporations are good at, it's dodging taxes. -- Forgive typos, on my phone.