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I don't really understand this. I'm very, very bearish to all things crypto, but how is banks stopping their customers transferring money to crypto businesses m

• Gigachad 4y ago
  Customers of a bank which blocks crypto will be less valuable targets for attacks since crypto is the easiest and fastest way to extract non refundable money from an account.
• elnr 4y ago
  When people are victims of fraud, the banks are generally expected to do something about it. I would conject that they may have had to refund too many people for crypto-related woes?
• shapefrog 4y ago
  "In recent years, “authorised push payment” (APP) scams, where a payer is deceived or defrauded into authorising a payment to a criminal, have increased both in value and volume, with many individuals suffering significant financial and emotional harm. ... which proposed introducing mandatory reimbursement for APP scams which occur over Faster Payments, as well as other measures to improve fraud prevention." If your bank is signed up to the voluntary Authorised Push Payment Scam Code which launched on 28 May 2019 it has to take a number of steps to protect their customers and reimburse customers who aren’t to blame. https://www.gov.uk/government/publications/government-approach-to-authorised-push-payment-scam-reimbursement/government-approach-to-authorised-push-payment-scam-reimbursement https://www.gov.uk/government/publications/government-approa...