Seriously ... the fraud was discovered Wednesday with arrests following overnight and the suspect made his first court appearance yesterday. Even the prosecutor has said that he doesn't even know if the suspect profited from his actions.
Almost no confirmed details have been released and yet every Tom Dick and Harry in cyberspace knows exactly what happened and has a simple fix whether it be regulatory, managerial, coding changes or a combination of all three.
To trot out the usual car analogies ... this is kind of like the news reporting that there was a serious car crash on the freeway an hour ago, three cars caught fire and five people are dead. Then in the next segment they have a panel of experts who talk about how better brakes, traction control and a closer fire station could have prevented the tragedy.
Anybody who claims to know what could have prevented the incident at such an early stage is overgeneralizing, talking out their ass ... or both.
This fraud has been going on for the better part of three years. We barely know what controls have been circumvented at this point and we sure don't know how they were bypassed. Why can't we wait for the investigators to figure out what happened first before we start trying to prevent the next one?