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Any proposal that requires companies to ignore signs of fraud is Dead-On-Arrival.
by powera 3y ago
Any proposal that requires companies to ignore signs of fraud is Dead-On-Arrival.
- arcticbull 3y agoI literally said 'lawful' transactions. Fraud is not lawful.
- nordsieck 3y ago> I literally said 'lawful' transactions. Fraud is not lawful. The problem is, it's almost all allegedly fraud. No one has the time or money to prosecute all of the attempted fraud in the system.
- arcticbull 3y agoSame exact process as now, except you have a guaranteed right to appeal.
- novok 3y agoAnd your effectively at the same spot again
- arcticbull 3y agoHow so? Currently if your transaction isn't permitted there's nothing you can do. Networks aren't required to process any transaction they don't want to process, or any kind of transaction they don't want to process.
- novok 3y agoYou can appeal and talk to payment processors today, and they essentially tell you that your category of transactions has high fraud rates or exposes them to legal risk until you do XYZ impossible or arduous things to mitigate the liability or risk. They will use the same motte that they use now to justify their bailey reality.
- deleted 3y ago[deleted]
- fineIllregister 3y agoThen it wouldn't have protected Pornhub. The payment processors pulled out due to CSAM, revenge porn, and copyright infringement, none of which are legal.
- arcticbull 3y agoAre you saying that's a bad thing?
- fineIllregister 3y agoNot sure how you got that from my comment. I'm not the one arguing for "payment nuetrality". I'm just saying that such a provision wouldn't apply in the Pornhub case if it allowed for a suspected illegality escape hatch.
- anigbrowl 3y agoThat's a cop-out, fraudsters don't announce themselves so naturally retail businesses look for proxy markers from which to draw inferences. There's an entire money-laundering industry that aims to handle this issue for organized criminals. If you don't engage with this fact than you're just handwaving away the problem, undermining any pro-cash advocacy you engage in.
- nateabele 3y agoThe real cop-out is that HSBC and friends launder more money for terrorists and human traffickers on a bad day than your typical local racket does in a year, and they only ever receive a token fine and slap on the wrist.