When people get scammed and money is transferred out of their bank, why isn’t there a paper trail? If the money is transferred into some foreign country that won’t allow tracing, why not just exclude those countries from the banking system?

Question

When people get scammed and money is transferred out of their bank, why isn’t there a paper trail? If the money is transferred into some foreign country that won’t allow tracing, why not just exclude those countries from the banking system?

In: 7825

Answer 1

Look up the story of how a bunch of hackers almost stole close to a billion dollars draining the central bank of Bangladesh’s entire account. There’s an investigative piece on it by the BBC and a really good podcast too. It’s amazing how advanced these financial scams can be.