As most of money in the world is digital anyways, Why can’t people fake transactions to a Bank account or just add one or two zeros to the balance? What makes online banking so safe that this doesnt work?
Most of even well guarded things have been hacked in the past, so i would imagine it’s at least possible?
In: Technology
Banks are highly regulated industries, and a substantial amount of that regulation is designed specifically to prevent this kind of fraud.
Money can’t just appear out of nowhere into an account without serious red flags going off. You need a paper trail showing where that money came from.
Similarly, large sums of money can’t just be transferred out of Elon Musk’s bank and into yours, without regulators (not to mention Elon’s accountants) asking “what is Elon Musk paying this guy for?”
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