That is because the function does not belong at the level it is being implemented at, and it does not work, The essence of why this problem is insoluble.
If there is not a distributed database, the record locking is solved at the level of the underlying file system. Which is a lower layer. The database and the application do not need to do anything.
Unfortunately, this problem keeps getting delegated to application programmers, who are plentiful, and have little knowledge of what is going on, or not going on, beneath the applications level.
The team I was part of included key architects of operating systems, databses, file systems , and networking systems as well as layered transaction processing systems and applications. I was a network guy,
Few companies have talent in all of these areas.
As an aside. Those ATM and most bank based online systems are heavily influenced and may even include older architectures of banking systems, which are far easier to secure than anything being written for the internet. When banks lower standards by using “modern” programming techniques for their front ends, security breaches occur,