Re:Why are banks still getting authentication so wrong?
by homebrewer on Tuesday May 13, 2025 @08:10PM
(#43979318)
Be careful what you wish for. This problem is solved in China — you can contact many government agencies and major companies over WeChat and be sure that you're talking to the real entity, but the downside is that WeChat has a copy of your passport and knows everything about you.
[ Parent
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Re:Why are banks still getting authentication so wrong?
by seri4l on Tuesday May 13, 2025 @09:25PM
(#43979748)
>This problem is solved in China
It isn't. China is the best example that draconian identity verification / KYC processes don't stop scammers.
Re:Why are banks still getting authentication so wrong?
by azophy_2 on Thursday May 15, 2025 @01:44AM
(#43992184)
could you explain more? im always under impression that chinese scam/fraud are rare. what keywords should i search for?
Re:Why are banks still getting authentication so wrong?
by throw283734a on Monday May 26, 2025 @03:15AM
(#44094820)
Most scams in China are a mix of romance and investment scams.
Since WeChat allows accounts created outside of China, it's these accounts that are used. And it's why there are times it's a pain to create a WeChat account outside of China.
The financial transactions all take place outside of WeChat.