‘Kafkaesque’: bank blocks cash transfer, saying it could be an AI scam
‘Kafkaesque’: bank blocks cash transfer, saying it could be an AI scam
Starling’s fraud team repeatedly refused to allow UK man to send £12,800 to friend in Austria, then froze account
Add the fact. It took the guardian contacting them for them to recognise the fault.
If this customer was not a high up academic, the guardian would not have shown interest.
Yet the bank froze his account preventing him from withdrawing his own money. With no police or court involvement.
Why the hell is that not pulling up a more serious investigation from the FCA.
Putting your money in a bank is just a conditional IOU from the bank to you. In other words, it's no longer your money and they don't have to give it back to you if they don't want to. Monero solves this.
False, and I'll assume you are American.
In the UK, you are protected up to £85k per bank.
https://www.fscs.org.uk/what-we-cover/
Government regulation can protect people. I know that concept seems crazy in USA.
£85k per bank
Worth noting though. That over the last 20 years or so. So many banks have merged in all but name.
Per bank only applies to the owning company registered with the FDA.
So dividing wealth over 85k into multiple banks is getting more and more impossible. Not to mention, the same merging of banks puts the whole nation fiscal security at risk in the event of a collapse.