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This will be a magnet for fraud.

Aside from that, I just don't get it. For example in the UK you can bundle the price of a mobile-phone into the contract payments. Laptops/iPads etc always take knocks etc and who wants to risk personal data by handing back such a device.

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It’s quite easy to format a device. It can even be done remotely (iOS)

and just as easy to recover data from a formatted device unless a secure wipe is done (which takes time and knowledge).

I work in banking and we shred drives when we are done with them for this reason.

People already sell used laptops without looking into bank-level secure data erasure though. This isn’t a real concern for this company.

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