As if the banks couldn’t be any more fraudulent.

by **Mrblue2015** Thu May 16, 2019 7:04 pm

https://uk.reuters.com/article/uk-eu-antitrust-banks/eu-fines-barclays-citi-jp-morgan-mufg-and-rbs-1-2-billion-for-fx-rigging-idUKKCN1SM0Y4

by **assassin** Fri May 17, 2019 1:34 am

Is this really news?

I ask because the banks have been doing this for years and the fines are only a small fraction of the profits they have made from this scam so still the banks make profits from fraud, and guess who ends up paying for it.

by **Mrblue2015** Fri May 17, 2019 6:05 am

No, it’s not really news in that sense Smile

But the more examples we provide, the more we can maybe continually inform / remind members (inc new) - some of which may not even follow the news and have no idea what the banks get up to - which may (hopefully) encourage members even more to stand up for themselves when harassed over alleged debts etc. That’s what I think / was my intention anyway Smile

Yep agreed on your point!

by **Mrblue2015** Fri May 17, 2019 6:12 am

Maybe we could even have a news subsection for bank misdemeanours? Where I’m going with this is that members/guests would see the list growing ie how many times the banks keep offending, and simply seeing a list at a glance tells it’s own story (ie they keep doing it / it’s unlikely they’ll change). Just an idea Smile

by **assassin** Sat May 18, 2019 1:11 am

Agree with your points Mr Blue and the fact of the matter is simple, banks use a scam once and leave it for a few years and return to it, so basically none of them are really new, just incarnations of previous scams.

They usually emerge after a change in legislation knowing they will be caught out, but weigh the profits gained against any future fines they receive and when they work a scam they know they will profit from it.

by **Mrblue2015** Sat May 18, 2019 6:45 am

Thanks Assassin and appreciate the background / insight. So as usual it’s only ever about money (greed) and the risk is financially worth it to them! One rule for one...

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As if the banks couldn’t be any more fraudulent.

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Re: As if the banks couldn’t be any more fraudulent.