Page 4 - The Banks Article

BANK ‘FRAUD?’ CASE STUDIES (1)

Introductory Commentary

The object of this section is to examine, through an
introductory commentary on the background of the
financial environment that allowed Banks to perpetrate
fraud and pay exorbitant wages to their senior
management after they had been bailed-out by
governments. Even nationalised banks engaged in bank
fraud or ‘business as usual’ during the period 2008-2018.
Research by the BCG, the Conduct Cost Project's (CCP)
Research Foundation, the Federal Deposit Insurance
Corporation (FDIC), the Serious Fraud Office and the

Federal Reserve all point to the Banks operating with a
senior management culture that acts irresponsibly in
the pursuit of profit even at the expense of incurring
hefty fines.