4 ms·
At least one bank is still this clueless. My father is a member of a charitable organization in his small town, and it was recently discovered that their treas
by ShabbyDoo 16y ago
At least one bank is still this clueless. My father is a member of a charitable organization in his small town, and it was recently discovered that their treasurer had embezzled about $30K. What makes this story so unusual is that this person also worked as a supervisor at the same bank used by the organization! It is difficult to separate the fraud which was carried out by this person as a private individual and that which required the rights of a bank employee to carry out. While there might exist banking regulations which make this an easy matter to sort through, I know nothing of them. However, the bank's clueless-ness is obvious. It has been months since this fraud was first discovered. The treasurer was fired immediately, and the bank's investigator was in contact with the local charitable organization. Incredibly, the bank has never offered to do the obvious -- make this organization whole without regard to the law or the specifies of the fraud which actually transpired! How many quarter-page ads in the local newspaper does $30K buy? Not enough to make-up for the loss of goodwill this story will have caused by the time the local paper stops reporting on it. There's some evidence that a good portion of the fraud required this person's position at the bank to carry out, so it's likely that the difference between what would actually be owed and $30K isn't all that great. And, how much positive goodwill could result if the local newspaper first reported how the bank had "rushed to help out this organization in its time of need without regard to how the chips would fall after a complete analysis of the facts"?
The bank is a small, regional player, but it doesn't seem like much analysis is required to figure out that the best strategy is to offer the defrauded organization a check with an agreement that all claims for losses incurred would be surrogated to the bank. How could they be so clueless at basic PR?