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I'm all for giving people agency over their finances for their entire life... but come on... there's got to be some way of asking "did this person really intend
by kylehotchkiss 3y ago
I'm all for giving people agency over their finances for their entire life... but come on... there's got to be some way of asking "did this person really intend to empty their bank account" to that person or a loved one before actually allowing the transaction to succeed. A fraud filter at the bank should see the owners age and know that something is off. Better to be wrong and be an annoying bank instead of mindless like HSBC and allowing this to happen.
- mytailorisrich 3y agoIt's the wrong question. What matters is only identity verification, including using all information available as you suggest. But once this has been satisfactorily verified what the person does with their money is none of the bank's concern.