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

I recently had about 30 dollars taken from my debit mastercard account via 116 transactions all in little amounts.

I rang the bank and they refunded all the money straight away, as I had not used that account for anything but one payment to pay my psychologist, who use an entirely online payment system.

But I don’t understand their endgame because it went to a “merchant account” in Nigera which would make it easy for Mastercard to reverse the charges wouldn’t it? So how do the fraudsters get the money?