Having been involved with fincrime teams at retail banks, I don’t think this can be said enough. There are so, so many bad actors and it costs every payment pl

Having been involved with fincrime teams at retail banks, I don’t think this can be said enough. There are so, so many bad actors and it costs every payment platform so, so much more than I imagined before I saw it from the inside. Someone commented disparagingly along th lines of f “try calling your bank after fraud and see if you get the money back”. My experience having been victim of financial crime 3 times is that the bank ate the cost every time. That’s part of the value proposition. Building a ledger is relatively easy- stopping people taking the piss is a nightmare.