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https://www.ft.com/content/3b1de7dc-368f-4864-bb73-cf4308a61899 https://www.ft.com/content/3b1de7dc-368f-4864-bb73-cf4308a61... >A senior lawyer who works for
by snthd 3y ago
https://www.ft.com/content/3b1de7dc-368f-4864-bb73-cf4308a61899 https://www.ft.com/content/3b1de7dc-368f-4864-bb73-cf4308a61...
>A senior lawyer who works for a private bank in Zurich says that, although egregious, the situation was hardly novel: it is widespread practice in Switzerland that independent wealth managers are given full power of attorney by clients.
>“We have clients where, basically, the authorised representatives, their financial advisers, do things like go and buy an expensive watch or whatever, and if we say, ‘No, don’t do that’, we will hear something back asking us why on earth we are making a fuss . . . They say they have given these people these powers, and it’s not up to us to decide what is reasonable or not.”
- PaulHoule 3y agoI always thought the 415 scams were aimed at rich people with poor judgement. I mean, who believes $10 million is going to fall out of the sky and hit them except someone who has already been hit with $10 million falling from the sky? Plus there is a limit for how much money you can scam out of a normal person.
- sumtechguy 3y agoYou can watch some of the scam baiter channels on YT. The scammers are not targeting the very rich (though they would not mind getting in on that). Usually they target retired people who have lost some of their faculties.
- rurp 3y agoThe mass market Nigerian prince style scams are basically a completely different industry from the $100M art scam one.