From what I understand, the government introduced legislation sometime in the past 20-30 years (Was it the PATRIOT act? I can't remember) - which I believe put the onus of blame on the credit card processing companies instead of the government when it came to fighting fraud.
I assume the government didn't want to put all the work in of making sure the currency they've societally coerced the world to use isn't being used for fraudulent transactions, they'd rather pawn it off onto the banks because it's easier for the government to not do anything about it.
Now the banks have been shooting anything and everything that has even a semblance of fraud with account locks/funds freezing/etc., because if they don't the government will go after them.
How does this system make any sense to anybody? So frustrating. Let me exchange currency with anybody for any reason at any time.
I assume the government didn't want to put all the work in of making sure the currency they've societally coerced the world to use isn't being used for fraudulent transactions, they'd rather pawn it off onto the banks because it's easier for the government to not do anything about it.
Now the banks have been shooting anything and everything that has even a semblance of fraud with account locks/funds freezing/etc., because if they don't the government will go after them.
How does this system make any sense to anybody? So frustrating. Let me exchange currency with anybody for any reason at any time.