Re:Patreon cuts deep inside creators’ pockets
by incangold on Saturday June 18, 2022 @08:13PM
(#31794977)
Having been involved with fincrime teams at retail banks, I don’t think this can be said enough.
There are so, so many bad actors and it costs every payment platform so, so much more than I imagined before I saw it from the inside.
Someone commented disparagingly along th lines of f “try calling your bank after fraud and see if you get the money back”. My experience having been victim of financial crime 3 times is that the bank ate the cost every time. That’s part of the value proposition. Building a ledger is relatively easy- stopping people taking the piss is a nightmare.
There are so, so many bad actors and it costs every payment platform so, so much more than I imagined before I saw it from the inside.
Someone commented disparagingly along th lines of f “try calling your bank after fraud and see if you get the money back”. My experience having been victim of financial crime 3 times is that the bank ate the cost every time. That’s part of the value proposition. Building a ledger is relatively easy- stopping people taking the piss is a nightmare.