#165024 by TerranceBoyce
Fri May 10, 2013 9:58 am
It's useful to hear your comments and thoughts rst and the trouble and harm these frauds do to honest businesses is something it's easy to lose sight of, but it inevitably affects the reputation of the companies impersonated apart from involving them personally in dealing with victims.
If you read the other forums you'll see that the problem is getting out of hand, and I say this as someone retired from banking, and it's obvious that at best, system and procedures at best have become lackadaisical and may have actually become corrupted.
The police only have to ask the banks for the ID used to open the account. It's not rocket science and even if the person claims to have been an innocent mule, they can be left in no doubt as to the result of them repeating the mistake. CIFAS state that 45,000 money mule offences were committed last year, and at that rate, everyone will have received a warning by the end of the decade, but as far as we can tell, it doesn't even warrant a yawn.
If the EU carries through its proposal to make it possible for a person in one EU country to open a bank account in any other EU country without extra formality is utterly absurd. The only current impediment to doing this is money laundering legislation, which is probably a good idea.
If you read the other forums you'll see that the problem is getting out of hand, and I say this as someone retired from banking, and it's obvious that at best, system and procedures at best have become lackadaisical and may have actually become corrupted.
The police only have to ask the banks for the ID used to open the account. It's not rocket science and even if the person claims to have been an innocent mule, they can be left in no doubt as to the result of them repeating the mistake. CIFAS state that 45,000 money mule offences were committed last year, and at that rate, everyone will have received a warning by the end of the decade, but as far as we can tell, it doesn't even warrant a yawn.
If the EU carries through its proposal to make it possible for a person in one EU country to open a bank account in any other EU country without extra formality is utterly absurd. The only current impediment to doing this is money laundering legislation, which is probably a good idea.
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