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

A lot of them have victims purchase $500 gift cards for Target, Apple, Playstation Store, etc and then provide the scammer with the card number. Then it’s outside of the banking system. In theory the respective corporate fraud departments of each company could freeze the card numbers. But the victims probably didn’t realize that they were scammed until much later, so it isn’t being reported.