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They have now, they didn't have in the past, and is still an annoyance to the customers often. Also online banking apps, SMS phising, etc.
Still more fraud detection and theft deterrence than the alternatives.
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Is that sarcasm? Aaaaah, I get what you did there! Took me a minute or two, during which time I was finding examples of How Some Bank Crime... https://www.rollingstone.com/politics/politics-news/outrageo... https://www.icij.org/investigations/fincen-files/hsbc-moved-... https://www.marketwatch.com/story/netflix-documentary-re-exa... But also: https://www.abc.net.au/news/2020-09-24/westpac-money-launder... https://www…
1) The fundamental problem is that countries, especially the US, have basically made companies exempt from criminal proceedings. Any criminal activity conducted as part of the company rarely leads to prosecution of the people in the company, and companies themselves aren’t really ever prosecuted for criminal acts. So any penalty to HSBC wouldn’t be criminal but civil and financial. 2) The articles say that HSBC laund…
It really feels like protectionism for the status quo. Which is totally understandable and predictable in the context of basic human behaviour and motivations; the king of the hill will not make it easy for anyone to displace them.
What I find interesting, as opposed to surprising as such, is the myriad ways in which politicians explain these situations away in simultaneously calling the slap-on-the-wrist a big deterrent to such behaviour in future, and playing this slap-on-the-wrist as if it's somehow in the interests of the voting population.