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I suspect those that are not scandal plagued fall into one of three buckets. 1) The banks face wide ranging, competent and impartial oversight and they know it

I suspect those that are not scandal plagued fall into one of three buckets. 1) The banks face wide ranging, competent and impartial oversight and they know it. Unsure this exists but its theoretically possible. 2) The government is directly involved in bank activity so there is no one impartial to investigate scandal-worthy behavior. 3) The government and the banks are separate but bank oversight is negligible or ineffective. This causes scandal-worthy behavior to go unnoticed. I suspect scandal free countries largely fall into category #2 and #3.

mrleiter 8y ago
That would be somehow sobering. There is another option: a small bank that does not trade derivates and where people within know the customers not only by an excel sheet [1]. But then again this is impossible to scale. It's still nice to see. [1] https://translate.google.at/translate?hl=en&sl=de&u=https://www.nzz.ch/wirtschaft/eine-kleine-bank-in-der-emmentaler-taiga-ld.1370910&prev=search https://translate.google.at/translate?hl=en&sl=de&u=https://...
- noxToken 8y ago
  > where people within know the customers not only by an excel sheet Unless you don't count individual actions, this is probably nonexistent. My hometown had a very small regional bank with roughly 3 branches total. One manager was caught skimming funds out of the vault. She was responsible for the closing amount at the end of the day, but she didn't know that there was another person who double checked behind her. The other was someone who was skimming funds from deployed military and fixed-income retirees. I don't recall the exact process for deployed military, but it involved removing extra funds from their accounts when an auto-pay transaction (wireless bill, mortgage, etc.) hit. I don't know the details like if she somehow bumped the transaction amount or added a small transaction fee. The fixed-income retirees was simple. When an elderly person came in to cash a check, she would palm a bill or two and short the customer.

mrleiter 8y ago

That would be somehow sobering. There is another option: a small bank that does not trade derivates and where people within know the customers not only by an excel sheet [1]. But then again this is impossible to scale. It's still nice to see. [1] https://translate.google.at/translate?hl=en&sl=de&u=https://www.nzz.ch/wirtschaft/eine-kleine-bank-in-der-emmentaler-taiga-ld.1370910&prev=search https://translate.google.at/translate?hl=en&sl=de&u=https://...

noxToken 8y ago
> where people within know the customers not only by an excel sheet Unless you don't count individual actions, this is probably nonexistent. My hometown had a very small regional bank with roughly 3 branches total. One manager was caught skimming funds out of the vault. She was responsible for the closing amount at the end of the day, but she didn't know that there was another person who double checked behind her. The other was someone who was skimming funds from deployed military and fixed-income retirees. I don't recall the exact process for deployed military, but it involved removing extra funds from their accounts when an auto-pay transaction (wireless bill, mortgage, etc.) hit. I don't know the details like if she somehow bumped the transaction amount or added a small transaction fee. The fixed-income retirees was simple. When an elderly person came in to cash a check, she would palm a bill or two and short the customer.