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?
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It’s not really banks so much as it is peer to peer money apps like cash app or Venmo to name a couple. And these apps are operating under the assumption that any money you send is money you agree to never be able to recover, it is basically the property of someone else once you hit send and nothing about it from a fraud protection standpoint is illegal since there was consent on the sending party..
This is where the issue lies is the consent. And the sad truth is the overwhelming majority of the victims are elderly. It’s not like this is a Visa card charge that you can dispute, it’s you sending someone money agreeing that that money belongs to them now.
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