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

There is a paper trail, banks involved have records of each and every transaction for certain. But if you have a victim and victim’s bank in country A, a intermediary bank in country B an criminal with criminal’s bank in country C then good luck to victim trying to get their money back because no court has jurisdiction over all the banks involved. And banks certainly don’t give out any banking information unless the law says they must.