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 paper trail exists, but it can be very difficult to follow. The problem is that the scammers are often based in countries that don’t have good laws for tracking down and prosecuting criminals. So even if you can find where the money went, you may not be able to get it back or prosecute the people who took it.