We do protect the vulnerable from bad actors, when anybody tries to make large transfers of money the banks are required to check the validity of the transaction but ultimately if the individual insists what's the bank supposed to do. It's their money.

There is only so much that it is possible to do, and beyond a certain point you have to accept that scams are either going to happen or just take people's ability to control of their own money away from them, neither are particularly good options.