Page 138 - Articles Written by JGJ EF DPS

Abstract

The object of this paper 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.

KEY WORDS: Bank Fraud, Financial Crisis, Short Case
Studies, Multimedia Cases, Banking Culture.