[jazzkingrt]

I'm not an expert in this area. But a fairer comparison would be a US service like Venmo. In my experience Fraudulent payments with venmo are much harder to recover.

I think a lot of fraud prevention tech can reasonably be done in a matter of seconds. FedNow also proposes to be domestic only for the time being, which means the recipient accounts are in US jurisdiction and easier to shut down and prosecute. Finally, there's no reason a wait-period/cooldown can't be implemented in another layer.

[legitster]

> easier to shut down and prosecute

The problem is when someone spins up a scam account, gets a fraudulent payment, and then cashes it and shuts down the account. If they already have the money in cash, it may be impossible to prosecute.

Any fraud prevention is going to have to be privacy intrusive by it's nature.