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I'm not sure what JPMorgan could have done before closing the deal realistically. At a point society only works if people tell some version of the truth. It's
by bpodgursky 2y ago
I'm not sure what JPMorgan could have done before closing the deal realistically. At a point society only works if people tell some version of the truth. It's very hard to protect against blatant and shameless fraud beforehand.
- dmix 2y agoAgreed, I don't think JPMorgan is much at fault here, besides maybe gambling on a fresh young company, but that's always risky for better or worse. Business is heavily built on relationships and reputation.
- littlexsparkee 2y agothey hired a 3rd party to verify the leads and they basically checked that the row count was 4m and said yeah these look like contacts. if whoever was in contact with this vendor thought this was adequate, that's pretty bad judgment. how hard would it have been to validate a few records?