The highlighted parallel is usually drawn between cryptocurrency and cash, not between cryptocurrency and banks. With both cash and cryptocurrency, as is the idea behind the analogy, 1) there’s no intermediary and 2) once it’s gone, it’s gone. Obviously, the banking system is not immune to fraud (not sure why you think I made that claim, unless your definition of “cash” includes electronic transfers), but banks and/or payment systems can (and do) resolve these cases and have certain KYC requirements.