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The root cause of the issue here is that enforcement against scams no longer exists, so banks have no choice but to take matters into their own hands to try and
by Nextgrid 2y ago
The root cause of the issue here is that enforcement against scams no longer exists, so banks have no choice but to take matters into their own hands to try and prevent their customers from falling victim to one.
In a functioning society scams wouldn't be as prevalent because law enforcement would take prompt and proactive action (which also acts as a deterrent and reduces the number of scams further) and thus banks wouldn't need to do this because getting scammed would be such a rare occurrence.
- miohtama 2y agoThis is the UK. The root cause is that the new UK law forces banks to reimburse any transaction. More here: https://news.ycombinator.com/item?id=41273554 https://news.ycombinator.com/item?id=41273554 Of course banks would not want to go kafka, but members of parliaments decided so and regulators forces banks in the turn. So point the finger at the regulators.
- Ferret7446 2y agoIt's not just scams. There could be many reasons why a bank would freeze "your" money. There have been many cases, some recent, and some recently in developed/first world countries without due process, of governments telling banks to freeze someone's money because you did something the government didn't like. If you give your money away, then it's not really your money. If the other person doesn't given it back, are you going to force them to? Are you going to tell the regional controller of force to them them to do so? What if it's that entity that doesn't like you?
- JetSpiegel 2y ago> you did something the government didn't like Like storming the US Capitol, or blocking Canadian roads, these kinds of "political views"?