Re:Robinhood Accounts Looted, No Customer Support
by WalterBright on Friday October 09, 2020 @07:41PM
(#24735510)
> The policies across the board are to just hand over money.
Makes perfect sense. They lose a few bucks, vs the $$$$ they'd have to pay in the lawsuit. Let the cops deal with the crooks.
Re:Robinhood Accounts Looted, No Customer Support
by dmoy on Saturday October 10, 2020 @01:55AM
(#24736938)
They don't lose a few bucks, it's insured.
I vaguely recall it's part of FDIC even.
Re:Robinhood Accounts Looted, No Customer Support
by sharkweek on Saturday October 10, 2020 @11:18AM
(#24739527)
This isn’t true but appreciate that it’s what most people think. Just gets written off as a loss. Same goes for cashing bad checks, etc.
Re:Robinhood Accounts Looted, No Customer Support
by WalterBright on Saturday October 10, 2020 @02:56AM
(#24737123)
> They don't lose a few bucks, it's insured.
That's not how insurance works. If you file claims against the insurance company, they pay the claim, but your rates go up to cover it. YOU wind up paying.
Re:Robinhood Accounts Looted, No Customer Support
by ficklepickle on Saturday October 10, 2020 @03:26PM
(#24741219)
I can't believe you were down-voted for that. It is absolutely true. Insurance, especially for things likely to happen, is basically a payment plan.
The policies across the board are to just hand over money. As a result, there's essentially zero fatalities from bank robbery. Maybe a few every year, usually the criminal themselves.
However, bank robbers only get away with about 10% of cases. Clearance rates are super, super high now. And because they're usually serial, almost every single bank robber gets caught. There's a whole slew of tactics used.