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

The frustrating part here is that as consumers we have no real control of our own accounts and our own credit. I very rarely need to open a new account so it would be nice to just lock myself down and same goes for wiring money – why I cannot whitelist/blacklist wire transfers?