The part of the bank that I work in deals with a specialist set of products.
One rival has been accused of deliberately placing businesses in to administration where they got an alleged significant kick back from the administrators and were allowed, in their contracts with their customers, to charge "emergency" fees.
All they needed to do was provide a statement of account provided by their computer system at court to prove indebtedness with no back ground calculations. They could add whatever transactions they wanted to the statement before printing it off as the court would assume the "computer was correct".
Given the recent news re the reliance on computers, one might hope that some of that banks cases are reviewed.
BTW, we could do the same, but there is good segregation of duties - account managers or directors don't have permission to post transactions and we have reputational risk to worry about.
Last edited by: smokie on Wed 10 Jan 24 at 09:30
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