Any corporation, bank or otherwise, that deals with MY MONEY, (and yes, the money belongs to the person, it is not an inherent "right" of the corporations to take it from you by hook or by crook,) had da*ned well better verify that I am who I say I am when I go to use electronic forms of payment.
According to your argument, it's the consumer's fault he decided to have a bank account, or a credit card, or any form of electronic payment, because if he had just kept his money in gold coins locked in an underground vault protected by a loyal guard of militant Iranians why then this would never have happened would it?
Reality check: that's not how the system works. In the real world, you need a bank account to get most jobs. Why? Because most of them will refuse to pay you any way but direct deposit. In my country, yes, they have the right to refuse to pay you if you don't accept payment through direct deposit. Corporations have more rights than people, as they do in your dream utopia.
In the real world, without establishing credit, you can't do simple, yet vitally important things like obtaining a mortgage. This more or less requires a credit card. For that matter, there are now a number of places that only accept payment by credit card, or debit card, and will not deal in cash of any sort.
All of this means that unless you are already rich enough to simply do what you wish in the world, rather than having to play by it's rules simply to survive, you must have some form of electronic currency. If you don't have absolute control over who can access that money and when, there are some pretty sever issues with the system.
That money belongs to the me, (the CONSUMER,) not to the bank, and certainly not to a corporation. It is not the god-given right of a criminal or fraudster to rip me off for that money. Since I don't control the method of accessing that money, but simultaneously am required by multiple elements of society to keep money in that electronic account, then the gate keepers of that money (who make a fair amount of coin to BE the gatekeepers to that money, bear in mind,) should be legally bound to verify my identity before allowing anyone access to it.
Chip and PIN, (or just PIN,) signatures, passwords, none of this is remotely enough. Until the banks are held liable for every single fraud and loss, they won't bother putting the effort into earning the fees they charge for the "privilege" of allowing all and sundry to rip you off.
And any corporation, (such as a mobile service,) that retains financial information about you allowing them to access funds in your account should be held to the same high standards to verify your identity before making *any* change to the agreed upon and contracted amount.
Furthermore, both banks and corporations need to be legislated into paying massive fines for every single scrap of personal information lost. How many corporations have the ability to pull funds from my bank account? By my count, 12. In at least 8 of those cases, they simply would not deal with me any other way, and they can cheerfully refuse to deal with anyone who doesn't play by their rules because of course, here, corporations have more rights than people.
At the end of the day, it's MY money, and the banks are paid to safeguard it. If they aren't doing their job, they need to be punished. If corporations leak your data, giving criminals all the information they need to get past the weak safeguards of the banks, those corporations should also be punished.
This isn't a matter of "it's the consumer's responsibility to never give anyone his data, and should never keep money in banks because they are potentially insecure, harrumph, doesn’t every keep their money in gold, protected by militant iranians? You there, pass me my martini!"
I WORK for a living, and so I have to play by the same rules as any other joe. Which means the corporations have more rights than me to my own money.
So go to hell.
This sh*t has to change.