alt Hacker NewsWhy can't a bank put a lock on large transfers or have an extra verification step? Or a cooldown period, so that if they see a large transfer from people above 60, let them go to a branch to verify/ack the transaction. Why is this the internet or operating systems problem to solve?
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> Why is this the internet or operating systems problem to solve?
Exactly! I don't understand how account-draining transactions make it through, yet I get the third degree when I withdrawal a few thousand in cash to buy used equipment off craigslist.
Well in many countries this is the case.
But it's an interesting thing to raise, because so often when they do enforce those controls - the outcry is 'bank won't let me do what I want with my money!'.
Not such a stones throw from - 'tech company won't let me do what I want with my device!'
Im not making any specific point. But perhaps thats indicative that the solution needs to be holistic, or just that security is hard XD.
It's crazy. There have been news articles here where people have lost their whole account balance in one go and bank says they can't even do anything after the transfer is made. How is that different from Bitcoin then? People that have never done such huge transfer and the banks supposedly are monitoring transfers.
And since the customer was supposedly being careless, they won't get anything from the bank.