"If a bank failed to verify me properly and moved all my money to another account, wouldn't that be gross negligence?"
No, that translates simply as a 6 month wait to get the Financial Ombudsman to finally get off their rear ends to formally state that that was all A-OK despite clear evidence and law to the contrary, then (and only then) can you finally take them through the small claims court to lastly end up with a doorknob settlement. Been there done that, still quite happy to encounter the bonus collecting chairman one night in a dark alley and exploit uses for a drill powered hole saw that will never make it into the official instructions. But I digress.
The bizarre thing is that, if you think about it, the problem is not the lawyers per se. They are paid to interpret the book as well as they can on behalf of their clients.
The mess starts with the people who come up with these laws, and at present they are not responsible for the consequences. Make them responsible and suddenly all sorts of things might get straightened out, but that will never happen..