In the news today, yet another reminder that the international fraudsters like wire-transfers for their difficulty in being reversed. I haven't been bit yet but I'm rather fed up at this point.
The banks claim international wire transfers cannot be reversed as though it were a physical impossibility. This is in fact not true. Wire transfers cannot be reversed because there is insufficient power of law behind rolling them back. Since the US is a net importer of goods, we can be reasonably certain (and in fact this is so) that it is a net-exporter of cash. Action: notify receiving foreign banks which wire transfers are being rolled back due to fraud, update the books, and the cash never follows. And we do only the most blatant ones so that nobody can look good challenging the action.
Old law: Possession of stolen property is a crime.
But international moves have fallout. And I failed to imagine any other than screaming in the press, which I explicitly don't care about. But I know that's not it.
EDIT: I got a fairly good answer that missed a few things. You would never try to run a rebersable and a non-reversable form together as this is directly pointed at authorization failure modes. On reading the answer I now think twice about making it work for non-delivery. It's not supposed to be general recourse but rather a specific defense against corrupted law.