When people get scammed and money is transferred out of their bank, why isn’t there a trail to easily find the scammer? If the money is transferred into some foreign country that won’t allow tracing, why dont you get a notification of sus activity before the transaction goes trough?

Question

i find it amazing that the scammers have such and easy and forgiving path to potentially taking all of your life savings if on the card with all of your credit card info, or even without the cvv number. and it can not be traced and they wont face any penalty for stealing or trying to steal. and why cant you set up your card that it requires a app approval or a pin for all online purchases that would literally make the card info by itself useless? any app protection you use in online store to confirm on your phone is by already trusted stores making sure scammers dont use stolen info there so basically only the businesses are protecting themselves

and if you say the scammers take the cash out somewhere, how can this be done without having a physical card put in the machine with pin or showed at the bank counter with connected id? why does it feel like its all set up for scammers to scam and get away with it and you have to think of loopholes to protect yourself but that even wont work if the employee at the bank leaks your cc info even to never used card anywhere.

ideas?

In: Economics

Answer 1

There will be a separate scam to get the money out. A common one involves hiring a random person for a “job” where they need to receive transfers in their personal account, and then send it somewhere else through an un-reversible method (maybe crypto or some kind of international wire transfer).

Before long that person will have their account shut down and they may themselves be on the hook for the stolen funds. They won’t have anything to identify their “employer” other than an abandoned email address.