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Is your money safe at Stanchart Bank?
Intelligentsia
#11 Posted : Thursday, May 27, 2010 10:52:47 AM
Rank: Elder

Joined: 10/1/2009
Posts: 2,436
@VVS- I agree.
Graveyard for most fraud cases in Banks is BFIU. Just like in wider Kenya, the cop station, courts,etc are graveyards of most cases.Paradigm change needed all over.
XSK
#12 Posted : Thursday, May 27, 2010 2:00:46 PM
Rank: Veteran

Joined: 12/8/2009
Posts: 975
Location: Nairobi
Intelligentsia wrote:
@VVS- I agree.
Graveyard for most fraud cases in Banks is BFIU. Just like in wider Kenya, the cop station, courts,etc are graveyards of most cases.Paradigm change needed all over.


Theft by employee/Servant! I have been a victim lately. Lost about 180 k and the damn "thieving" employee is available on phone. The police tell me to tell them where the "suspect" can be found and yet he is available on phone.
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
bird_man
#13 Posted : Thursday, May 27, 2010 3:37:57 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Cash is lost all the time in banks...a lot.All cash lost within the bank or in transit is insured.So no need to panic.You should only be worried if there is pilferage on customer deposits because the bank would then have liquidity issues if you were to withdraw.All the same, I think strong risk, audit & compliance policies need to be put in place.
You also notice most banks don't prosecute inside theft cases coz it injures their reputation, also considering they got the stolen money back via insurance.Another reason is because the Banking Fraud Unit will come in,harass all the wrong people and leave the culprit.
Formally employed people often live their employers' dream & forget about their own.
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