People say things like this as if the money taken in a fraudulent transaction just disappears and is untraceable, and unrecoverable. That is false.

It's one of those scare tactics that the middlemen use to sell a vision of financial-techno-secure-utopianism in order to collect a percentage of the money. Don't fall for the marketing.

The money has to go somewhere: Into another bank account, usually, which is easily traceable since banks by law have to know who they're dealing with.

Even if a check gets cashed at a check cashing store, the store requires ID, the person getting the money is on video, sometimes they have their fingerprints taken by the store, and if something still goes wrong, the store is on the hook for the money when the transaction is reported as fraudulent and reversed.

These are all problems that were largely solved last century.