Why Banks Are Suddenly Closing Down Customer Accounts ( 1ft.io )

e_t_ Admin , 7 months ago

But there are almost always red flags — transactions that appear out of character, for example — that lead to the eviction. The algorithmically generated alerts are reviewed every day by human employees.

I doubt the "reviewed every day by human employees" part. The whole thing smacks of algorithms running unmonitored.

Hirom , 7 months ago

I guess these algos are monitored but given benefit of the doubt. Few understand the system and/or would risk going against the system’s recommandations of fear of getting blamed.