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It's possible there are no real protections to ensure a clawback is "legit," other than shifting the burden of verification from the customer to the bank. Now f
by chatmasta 3y ago
It's possible there are no real protections to ensure a clawback is "legit," other than shifting the burden of verification from the customer to the bank. Now fraudsters need to convince the bank that a payment was invalid, compared to convincing a customer that an address is what they expected.
- lxgr 3y agoPossibly, but I highly doubt that banks would want to get into the weeds of dispute arbitration for a free P2P payments system.
- the_svd_doctor 3y agoIs that any different than for, say, checks?
- chatmasta 3y agoYeah, they don't want to, which is why they spent 5+ years avoiding it until the FTC forced their hand...
- bl4kers 3y agoZelle is like a bank consortium, no? They should have a vested interest in both identifying fraudulent transactions as well as customers using their accounts for fraud so they can close them down