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this post was submitted on 06 Sep 2024
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They should be - but they should also have some leniency from lacking clear intent. The people who spread this "hack" obviously knew it was check fraud and some of these folks may have known it... but some others may just be rubes. Obviously it'll come down to the actual trials but it'd be good to let most of these folks off with just returning the stolen funds with no additional punishment. There isn't really any deterrence value from punishing people who knew no better for exploiting a now closed loop hole - there's no possibility to copy cat the check fraud now.
I'd also love to see the FTC go after JP Morgan for such a fucking large security hole - this hack was only possible because of their negligence.
I'm sorry, but no. Anyone who did this knew it was ~~theft~~ fraud. And if they didn't, ignorance is not an excuse for breaking the law. I'm not usually on the side of the justice system, but this was clearly wrong. Maybe they don't need to fill up our jails, but some community service is deserved.
Edit: more accurate this way.
the companies shouldn't have allowed it to happen, JPMorgan was aiding in check fraud
That’s not how any of this works dude. That’s actually absurd lol
why should banks recive special treatment when compared to any other company?
Special treatment? They were being stolen from. Just because the money wasn’t in a vault doesn’t mean you can just steal it…???
if there's a button that says "free money (don't press)" and you press it's absolutely the fault if the company for leaving the button out in public. It should be expected that any user input can and will be abused.
what a weird hill to die on
I just hate governments defending companies from the consequences of their own incompetence without properly buying them entirely
I'm down to make the whole economy public but this is an unfair take
What incompetence? There’s a balance that has to be found between fraud-proof and convenient, and the current balance is pretty good until someone convinces thousands of gullible people online to go commit fraud.
If I mess up I owe them money.
If they mess up I owe them money.
Seems a little one sided to me.
If they mess up and you exploit their system to steal*
Idk sounds like something a major banking company should never have let be possible in the first place.
Sounds like they should eat that loss for not catching it or fixing it sooner.
That's what happens to normal people who fall for exploits/scams. They just have to eat the loss.
Now that. That is a much more fair argument.