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Electronic Funds Question

ISAslot

ISAslot

Platinum Member
I was thinking, what kind of protections are in place to prevent a bank, or those with the ability, to create a fictitious institution and transfer money electronically from it into an account, and then use these funds to aquire matieral investments?
 
Originally posted by: ISAslot
Basically, what is keeping banks from just "creating" money electronically?
Click to expand...

Audits, reconciliations, the government, etc. Nothing is really "preventing" them because people embezzle money all the time. It's just they will ALWAYS get caught and get punished.
 
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