Singapore has a wave of SMS banking scams 3 months ago

The regulator has already intervened to force changes in banks (no more links in messages, shared liability, protective measures, authenticated SMS) and Telcos (SMS ID registry)

So yes, in the financial world, in properly run countries, systemic issues are addressed by regulatory systems. Because losing an email is one things, losing your live savings is another.

Crypto either will end up fully regulated or die