Thread · HN Continuity

Banks censor everyone on both sides of the poltical spectrum without a court order for risk mitigation. There's a law that allow police getting banking records without a warrant, just a subpeona.

There's no downside to collecting too much information so banks ask for way more PII than needed and then it breaches, making more KYC fraud with the newly breached data, giving an excuse to continue collecting more information instead of making a secure system. Their apps are full of security theatre to comply with regulations.

On the topic of cash and crime–encrypted messengers and VPNs are also used for crime. Except, there's more crime in online banking than in cash. The war against cash is actually part of the war against privacy. We should not sacrifice privacy because of crime.

"consumers reported losing more money to scams where they paid with bank transfers or cryptocurrency than all other payment methods combined."

<a href="https://www.ftc.gov/news-events/news/press-releases/2025/03/new-ftc-data-show-big-jump-reported-losses-fraud-125-billion-2024" rel="nofollow">https://www.ftc.gov/news-events/news/press-releases/2025/03/...