Re: What? No Velocity check?
It's a business decision:
Option 1 - bank refuses withdrawal because it can't get a secure realtime direct link from the foreign ATM to its HQ, or because a businessman buying a coffee in New York 12 hours after buying a heathrow express ticket is somehow "suspicous". Business man returns home furious, cancels all his accounts, moves his mortgage, pension and life insurance - bank loses $1000s in fees.
Option 2 - bank allows some extra risks on a pre-paid credit card that accounts for 0.1% of its business.
You can always add more security - the question is whether requiring a 15digit pin and a DNA sample everytime a customer uses their card is a win for you in the long term