Robinhood Accounts Looted, No Customer Support

Re:Robinhood Accounts Looted, No Customer Support by orf on Saturday October 10, 2020 @05:13AM (#24737654)

The rest of the world is doing fine without them and the associated levels of fraud that comes with a random slip of paper allowing you to transfer large quantities of money. I haven’t even seen a check in decades and even if they are technically legal in the UK for a few more years, nobody accepts them. Why would you?

The US has a ridiculous level of bank/payment fraud compared to Europe (~15x in some areas, according to the fed), who invested in chip+pin, SEPA, IBAN, etc etc. This all lets me pay for something with no overhead and maintain my own audit trail in a way that doesn’t involve a trust-based system from the 1800s.

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Re:Robinhood Accounts Looted, No Customer Support by m463 on Saturday October 10, 2020 @12:06PM (#24739851)

> The US has a ridiculous level of bank/payment fraud

The US also has strong consumer protection laws.

I remember a friend of mine had a father in mexico and someone misused his bank card and he was SOL.

In the US, there are laws protecting credit card holders. The most that can be lost is $50 (or $500 in cases of extreme negligence).

What is really happening is that with minimized repercussions a lot of things have almost been decriminalized.

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