On: The optimal amount of fraud is non-zero (2022)

[herbst]

I know nothing in IT is certain. But I am pretty sure anyone can come up with a simple (or complex) backup solution that suits them and is 99.99% safe.

[mcv → herbst]

It's always about that 0.01%.

And expecting people to come up with their own solutions for problems that banks struggle to solve, is going to be a recipe for disaster for 99.99% of the people.

[makapuf → mcv]

Couldnt that 0.01% be solved by coming physically with a photo ID card or a passport and legal papers to some trusted employee ?

[DougN7 → makapuf]

And we’re back to where banks are today. Stopping fraud is a very tough problem to solve remotely.

[tazard → mcv]

The optimal amount of ....... is non zero