[cryptography] Must have seemed like a good idea at the time

Jeffrey Walton noloader at gmail.com
Thu Jul 25 15:59:38 EDT 2013


On Tue, Jul 23, 2013 at 4:54 AM, ianG <iang at iang.org> wrote:
>> ...
>
> Banks will say that international wires are irreversible, but it isn't true.
> If the banks cooperate they can do a return of funds.  It all depends...
>
This was kind of interesting: "According to Li, the larger problem [of
Chinese car theft fraud] is the Chinese financial system, which
requires every bank-to-bank transaction to be routed through the
central government’s banking authority. As a result, anti-fraud
measures are usually slower than criminals. Stopping a payment could
take as long as three days, by which time the money is usually
unrecoverable."
http://www.theverge.com/2013/7/24/4549124/how-google-uncovered-a-chinese-ring-of-car-thieves.

Jeff


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