That is to say, banks are not the only entities in existence.
If they really need such high security to avoid scams and losing such large sums of money they should just issue bank customers with a locked down device that can only be used for banking (maybe banks can collaborate on a standard for it so you can have one device for multiple banks). To be clear, I would still probably be strongly against such a proposal but at least we would be talking about a somewhat understandable approach.