this post was submitted on 05 Aug 2023
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Technology
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Why target the browser for fraud prevention? How about targeting banks? They are the middle man for almost all the online fraud that is happening and would have an relatively easy time to shut it off. Make them liable for all the money that leaves the bank account without the users expressed consent and it wouldn't take long until they introduce security measures that actually work.
Ex-banker president targets banks... Now that'd be quite an unexpecred headline! Shame it'll never be.
I have to disagree here. Disclaimer: I work for a bank but not super into the core financial stuff. Firstly, banks are already super heavily regulated; anti money laundering, terrorism financing, know your customer, etc. The reason crypto takes minutes for international transfers and banks can take days isn't because of technology, it's all of those checks on fraud happening. All the money leaving a bank account is, barring very advanced fraud, with the user's consent, but in fraud cases this is often done via social engineering (calling someone to get their codes from their bank card reader, or pretending to be a family member in need).
Because France is so authoritarian they can get away with using such a flimsy excuse. The President pushed through the pension age change without letting Parliament vote on it, and nothing happened with that - why should anything happen with this? And even if something does happen, they're starting a few steps below "think of the children!!" excuse so they've pre-emptively low-balled the negotiation.