41–50 of 185 posts
Earlier quoted context omitted.
Some people are philosophically opposed to turning private companies into arms of federal law enforcement agencies. That doesn't mean they are in favor of fraud.
There are people philosophically opposed to laws against facilitating fraud? In many cases, the fraudsters hired on with Walmart and the company profited from these transfers.
What implications does this have on churning?
Related to this, I do not understand how Green Dot is still in business. I worked for a fintech, and literally every single attempted transaction we got from a Green Dot card was fraud. We wrote special logic in the code that specifically required all Green Dot transactions to get a manual review - I can't remember if we switched this to just outright reject, because I'm not exaggerating when I say we never got a val…
(fwiw, this is exactly why Walmart gave up on the manual review. Volume and time.)
There is a reason why such kinds of fraud are practically nonexistent in some other countries but are prevalent in the US. Alas, nearly every problem in the US stems from politics. A problem which could have been solved easily will keep being a problem for another decade. Regulators could have solved the problem at its root and make the scams impossible, but no, they would rather shoot the messenger and force money t…
Earlier quoted context omitted.
Some people are philosophically opposed to turning private companies into arms of federal law enforcement agencies. That doesn't mean they are in favor of fraud.
This concern > opposed to turning private companies into arms of federal law enforcement agencies. does not explain this policy > “If you suspect fraud, complete the transaction.” If there is suspicion of fraud and yet still direct your employees complete the transaction, sure, maybe you're not literally in favor of fraud. But it does mean that you don't care if there's fraud. There's little daylight between not cari…
People should be trained to detect fraud if that's necessary. But saying "don't try to detect fraud" to random-ass employees whose job is not fraud detection seems eminently reasonable to me.
Related to this, I do not understand how Green Dot is still in business. I worked for a fintech, and literally every single attempted transaction we got from a Green Dot card was fraud. We wrote special logic in the code that specifically required all Green Dot transactions to get a manual review - I can't remember if we switched this to just outright reject, because I'm not exaggerating when I say we never got a val…
Apple - https://applecash.greendot.com/termsconditions/
Uber - https://m.gobank.com/uber/noworries
Walmart - https://www.walmartmoneycard.com/legal-info
[edit] formatting
For years, according to the complaint, it was Walmart’s stated policy for its employees to issue payouts even in the case of a suspicious money transfer, making it easy for scammers to retrieve fraud proceeds at a Walmart location. The complaint cites a Walmart reference guide for employees that stated: “If you suspect fraud, complete the transaction.” Wow!
The alternative is many people's experience with a denial of service by a faceless fintech or paypal when they actually need it.
Since Walmart was the readily available trading depot, manual reviews would waste too much time. They couldn't tell the difference between someone churning for credit card signup bonuses, someone that was actually the victim of a bounced check scam and didn't know it yet as they were sending a money order for the difference as instructed by their scammer, or an actual member of a drug gang intentionally being a money mule from a drug transaction.
Earlier quoted context omitted.
Yeah, it would be hard for churning/MS to exist without Walmart. You can buy Visa/MC gift cards with a credit card, turn them into money orders at Walmart (via running them as "debit"), and deposit those into most banks at a ~1% total loss. These days, I think Walmart is not the easiest route to liquidate gift cards though. They used to allow some silly things like combining many gift cards to buy one money order, bu…
You can't do that kind of shit at retailers anymore.
Earlier quoted context omitted.
Some people are philosophically opposed to turning private companies into arms of federal law enforcement agencies. That doesn't mean they are in favor of fraud.
This concern > opposed to turning private companies into arms of federal law enforcement agencies. does not explain this policy > “If you suspect fraud, complete the transaction.” If there is suspicion of fraud and yet still direct your employees complete the transaction, sure, maybe you're not literally in favor of fraud. But it does mean that you don't care if there's fraud. There's little daylight between not cari…
does not explain this policy
> “If you suspect fraud, complete the transaction.”
Sure it does. It's not Walmart's job to investigate fraud or any other crime. Their cashier's aren't trained in jurisprudence. And, frankly, a corporate policy of "deny service to customers who you suspect might be up to no good" is just a few racist employees away from another shit show entirely.