| This is an incredibly disengenious take. Old people (or anyone) being scammed out of their life savings is bad. Full Stop. What is worse is some random person in line being able to speak up and have someone's bank account effectively frozen. Yes, this story is about Walmart but the real issue is banks here, in my personal direct experience. This topic is near and dear to me as I have personally seen how the banks do not consider money in your account to be your money - it is their money you can use in a prescribed manner. Step even a little off that reservation and you will find how much power others have over what you thought was your money. It can take months and years to resolve, and you generally have very little to no legal recourse. Random dude in a line, or a random $18/hr bank/walmart cashier is not an appropriate place to put your fraud detection and denial systems in place. Advising a transaction is fraudulent is A-OK in my book. Having customers sign release forms - cool. Actually denying funds? This is something I, and others, find absolutely morally and ethically repugnant. Your money is yours to do with what you wish, including lighting it on fire. It is not your place to tell me I cannot do that. Up until the point I do something illegal with my money, no one should have a single iota of say in how I spend, move, or deploy it. |
It would absolutely be reasonable to continue fighting fraud by recognizing that these things can happen, and taking steps to combat them, without tilting it as far as you have seen in favor of banks essentially confiscating customer funds.