"Was he (or she, Reg) in a position to catch the ball with both hands?" is a comment that you often hear - I've seen quite a few people catch the ball with one hand...
It's a bit like handball in footy - hand to ball/ball to hand - somethings you can't react fast enough to get your hand out of the way.
In many cases, if the ball were caught, the interception may be just as likely to score as if the initial pass were made; it's not (initially) always a scoring opportunity. Perhaps the sanction should always be a penalty unless it is clear that it was deliberate (if you can tell): defender has to have a hand/palm to the ball rather than finger tips and must be seen to not alter the trajectory of the ball other than to enable the same defender (shortly to become attacker) to catch the ball.