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> It is not my job to know how the bank got hacked. And without any explanations, it's not your bank's job to return your money.

by maratc 4y ago

krisoft 4y ago
The explanation is that you see a transaction you are not recognising. You point at it and say “i didn’t authorise that one” and let them investigate. They have the logs, you don’t. This is probably the worst day of your life or close to it, while it is just a normal regular occurence for your bank. They have policies to handle it from their side. They will ask a lot of question, perhaps ask you to make a police report. I ask you this, if you have chest pain and shortness of breath, would you: a; jurry-rig an oscilloscope to check your ECG, start reading wikipedia all about cardiology, and then find a nurse to tell them about how concerned you are about your QT interval Or b; go to a hospital and tell them that you have chest pain and shortness of breath?
- maratc 4y ago
  You have a lot of good faith in what your bank would or would not do, and they have a conflict of interest: if they side with you, they would need to make you whole — out of their own pocket. The hospital has the opposite conflict of interest: they are actually interested in helping you — and charging you (or your insurance, or NHS, or somebody). If you get your case against the bank in front of a judge, you need to prove your claim of an account takeover. The bank does not need to prove anything. If you haven't convinced the judge, no money for you.
  - adriancr 4y ago
    > they would need to make you whole — out of their own pocket. Banks have the means to ask for a freeze/for the money back from the other party's bank. Same as credit card companies can do charge backs.
    - maratc 4y ago
      If the transfer is instantaneous, the fraudster could have cashed out already from the other bank account. There is nothing in the other party’s bank by then. The chargebacks in credit cards come mostly from the credit card issuer pockets, and are funded by credit card fees. Not the case with banks that don’t take any fees on transfers.

> It is not my job to know how the bank got hacked. And without any explanations, it's not your bank's job to return your money.

by maratc 4y ago

> It is not my job to know how the bank got hacked. And without any explanations, it's not your bank's job to return your money.

krisoft 4y ago

The explanation is that you see a transaction you are not recognising. You point at it and say “i didn’t authorise that one” and let them investigate. They have the logs, you don’t. This is probably the worst day of your life or close to it, while it is just a normal regular occurence for your bank. They have policies to handle it from their side. They will ask a lot of question, perhaps ask you to make a police report. I ask you this, if you have chest pain and shortness of breath, would you: a; jurry-rig an oscilloscope to check your ECG, start reading wikipedia all about cardiology, and then find a nurse to tell them about how concerned you are about your QT interval Or b; go to a hospital and tell them that you have chest pain and shortness of breath?

maratc 4y ago
You have a lot of good faith in what your bank would or would not do, and they have a conflict of interest: if they side with you, they would need to make you whole — out of their own pocket. The hospital has the opposite conflict of interest: they are actually interested in helping you — and charging you (or your insurance, or NHS, or somebody). If you get your case against the bank in front of a judge, you need to prove your claim of an account takeover. The bank does not need to prove anything. If you haven't convinced the judge, no money for you.
- adriancr 4y ago
  > they would need to make you whole — out of their own pocket. Banks have the means to ask for a freeze/for the money back from the other party's bank. Same as credit card companies can do charge backs.
  - maratc 4y ago
    If the transfer is instantaneous, the fraudster could have cashed out already from the other bank account. There is nothing in the other party’s bank by then. The chargebacks in credit cards come mostly from the credit card issuer pockets, and are funded by credit card fees. Not the case with banks that don’t take any fees on transfers.