Frustration aside, why do many financial institutions block other country IP addresses? What purpose does this serve, is it a legal requirement for some institutions (examples: The Money Source, My Loan Care Inc - both block all Bahamas IPs explicitly).
We travel full time internationally outside the US. Some countries would not surprise me (say blocking all Nigerian connections etc.), but blocking places like the Bahamas which is not known for a great amount of cybercrime, puzzles me and leaves me wondering if there is a legal reason this is so aside from over-aggressive / thoughtless IT staff?
VPN is the obvious solution for us and I'm not asking that question, just asking if there is a legal reason.