[brmgb]

> There are almost no incentives for us to flag transactions on our own (unless we're being super humanitarian)

I like how you frame avoiding profiting from crime not only as being humanitarian but actually as being super humanitarian.

To be honest, I find your comment quite frightening. I think bankers viewing being honest as a humanitarian act is in and of itself a much larger problem than faulty software.

[solveit]

And I like how you immediately decided to alienate somebody clearly on your side pointing out a systemic problem by moralizing at them.

Flagging suspicious transactions and verifying that they're legit is costly. Spending money to reduce profit for the common good is humanitarian. It has little to do with being honest. If the bank does nothing, the bank doesn't lie, it just doesn't go out of their way to verify that other people aren't dishonest. And the fact that people view letting bad things happen by inaction as less bad (or even not bad) shouldn't be a surprise. It's just human nature. And when someone pointed this out, you decided they were Bad and Frightening. Because they said people will follow incentives in a well-known moral hazard scenario. Get a grip.

[woah]

Why do we still allow people to use cash? How much humanitarian good could we do by banning it once and for all? Gold is also a potent laundering tool, it can be re melted at a low temperature. It’s shocking that it’s still allowed.

[username444]

I still use cash for entirely legitimate daily transactions, and for the same reason criminals use cash. Same goes with Bitcoin and cryptography.

I don't need banks monitoring and selling my purchase history to their "affiliates", like insurance companies, so that they can build shadow profiles.

Maybe I'm buying vegan groceries, getting wheat grass enemas and giving my money to the poor. Or maybe I'm spending it on McDonald's, hookers and blow. Either way, it's nobody's business but my own.

[brmgb]

If you believe that expecting people to have a modicum of decency and some moral sense is akin to wanting cash banned, I feel bad for you.

The comment I was replying to was implying that in the absence of laws banks would have no incentive other than super humanitarianism for preventing obvious money laundering. That's beyond potential misuse. That's profiting of a crime out of pure greed. I know cynicism is currently fashionable but I would still expect most people to find that questionable.