Re:Automatic fraud detection is making my life hell
by spacebanana7 on Friday October 27, 2023 @06:39PM
(#38044915)
> Stopping crime by stopping money laundering will always have these problems, surely?
Yes.
Money laundering detection inescapably relies on private actors making a pre-prosecution estimate of whether money was earned illegitimately.
Private actors have much less information available to them than real law public sector enforcement.
And even with full information, trials cannot be predicted deterministically so there will always a gap those publicly deemed guilty and those privately deemed guilty.
Those in later category will suffer unjust financial hardship.
Re:Automatic fraud detection is making my life hell
by NegativeK on Friday October 27, 2023 @06:54PM
(#38045044)
> Is there a way to inhibit CC fraud, and money laundering without making life difficult for people who are in the tails of the distributions?
Yes. Have better customer support and actually fix issues when they happen.
This ends up costing someone money.
Re:Automatic fraud detection is making my life hell
by worik on Saturday October 28, 2023 @04:01PM
(#38052902)
> This ends up costing someone money.
I do not think it will be paid for by reducing profits...
...you and I will pay that bill
Re:Automatic fraud detection is making my life hell
by matheusmoreira on Friday October 27, 2023 @09:29PM
(#38046178)
> Stopping crime by stopping money laundering will always have these problems, surely?
I believe so. The optimal amount of fraud is non-zero.
It is a use for a Bitcoin like system
(The transaction costs, planet destroying character, and slow speed probably not Bitcoin)
It is the intersection of money laundering and normal requirements
Stopping crime by stopping money laundering will always have these problems, surely?
Is there a way to inhibit CC fraud, and money laundering without making life difficult for people who are in the tails of the distributions?
Even cash will not suffice as many places no longer accept it