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Interesting, thanks for sharing. This situation creates a market for new fraud-detection products, if anything just so that the banks can tell the regulator th
by xeckr 3y ago
Interesting, thanks for sharing.
This situation creates a market for new fraud-detection products, if anything just so that the banks can tell the regulator that they did their due diligence. Of course it depends on how common situations like Marta's are, and how expensive they are for the banks.
- nvm0n2 3y agoThey have those, lots of them. It doesn't matter if the regulator will take a stance like "we think (with the benefit of hindsight) it looked suspicious, so pay up". And unfortunately this is a very common thing for regulators to do. A lot of money laundering fines against big banks are like this. A civil servant comes in five years later after being handed some evidence that some transactions were criminal, says the bank should have known (without explaining how) and levies huge fines or gets a huge settlement.