Senior staff at one of the largest Banks in the world - Barclay's - charged with Fraud

Discussion in 'Politics, Religion, Social Issues' started by deany, Jun 20, 2017.

  1. deany, Jun 20, 2017
    Last edited: Jun 20, 2017

    deany macrumors 68030


    Sep 16, 2012
    North Wales
    Just want to say I have a pathological hatred for banks so I'm slightly bias.

    Senior staff charged with fraud at Barclay's

    They think they are the 4th emergency service


    Banks are NO different to any business - a tailor or candlestick maker but they think they are above everyone.

    they are no different to any business

    when you engage with them they think its their money in your account , good to see the charges brought against them in this article, sheds them in the Light - Banks, can't stand them.
  2. zin Suspended

    May 5, 2010
    United Kingdom
    Worth noting that Barclays itself has also been charged with conspiracy to commit fraud.

    It's also worth noting that the Conservatives planned to abolish the Serious Fraud Office and merge it with the NCA, which is not independent and supervised by the Home Secretary.
  3. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

    May 13, 2016
    At best they'll be given probation and a fine that is 0.01% of their worth. Oh the suffering.
  4. iMi macrumors 65816


    Sep 13, 2014
    I do not like Barclay's and they seem to use archaic methods that put consumers at risk.

    Just a couple of days ago I applied for the Apple Barclay's card, so that I could get some iTunes with purchase. I've done the same a few years ago when I purchased the last iMac. Back then the application went through and the instant credit approval worked just fine.

    This time, I got the "please call us" message. I called. They said they suspected fraud. Apparently something wasn't matching up. They requested that I snail mail copies of my social security card, driver's license and a utility bill to them. That's right. In order to "protect my identity" as they stated, they needed physical copies of very sensitive documents mailed to them. She said they could not verify my identity otherwise.

    That puts me at a great risk for identify theft. Insane.

    Then I learned that they already ran the credit report. Why would you run a credit report if you couldn't confirm the identity of the applicant? And if you did run the report, why not use the report to request information that would confirm my identity - such as which address you lived at in the past, or which vehicle have you owned in the past, etc. Banks do this all the time, either via secure website or telephone.

    It's beyond the pale. It's the 21st century.

    To add insult to injury they said the credit was approved, but they could not issue the card until I mail the documents to confirm my identity. Nope. Too risky. So not worth the iTunes rewards.
    --- Post Merged, Jun 20, 2017 ---
    And the CEO will get a fat bonus for "solving" the problem.
    --- Post Merged, Jun 20, 2017 ---
    I remember paying absurd interest when I was young and staring out. Today I pay off the credit card every month in full and get as many points, rewards and freebies as possible. It's a way of getting back at them a little.

    Banks are above the law. Just imagine. Back a few years ago, there was a case of a young black man who went to prison for 10 years because he stole candy from a convenience store. At the same time, we were just starting to recover from the 2008 collapse. The bankers on Wall Street developed a mortgage backed derivatives. Made millions upon millions and in the end nearly destroyed global financial markets, costing ordinary people billions in losses - retirement plans, pensions, personal savings. To make it worse, the same bankers anticipated the crisis coming and hedged against it. Those ****ers made money on the way up and on the way down. The fact they hedged against the declining housing market is evidence enough they knew what was going to happen.

    No trial. No fines. No jail time. Not even a slap on the wrist.

    So, forgive them for feeling this way - but they are above the law. That is pretty clear to me. We simply allow it.
  5. Zenithal macrumors 603

    Sep 10, 2009
    And fresh off the end of the LIBOR scandal, too.

Share This Page