RegulationCorporate GovernanceBanks ‘infiltrated’ by mafia gangs

Banks 'infiltrated' by mafia gangs

Chairman of Financial Services Authority says gang members are getting jobs in banks

Mafia style gangs are infiltrating UK banks to commit fraud, the chairman of
the Financial Services Authority has warned.

Sir Callum McCarthy told a financial crime conference that criminals were
getting jobs in the financial services sector in order to find ways around
anti-fraud systems.

City of London police, as reported in The Times, said they had been
investigating the problem for some time, but in the last two years the problem
had grown worse. It has emerged that seven employees of Barclays Bank were being
investigated for allegedly defrauding customers and the bank.

Two fraudsters were jailed in March for stealing nearly £200,000 from comic
celebrity Ricky Gervais, but the bank insider was never identified.

The gangs have become more blatant in their methods recently, the police
said, by approaching bank workers in their lunch breaks or on their way to work.

Related Articles

Corporate governance: staying ahead in accountancy

Corporate Governance Corporate governance: staying ahead in accountancy

3m Alia Shoaib, Reporter
One in 20 audit firms quit as market evolves

Audit One in 20 audit firms quit as market evolves

1y Kevin Reed, Writer
Colin: #EURef bankers a problem

Business Regulation Colin: #EURef bankers a problem

1y Taking Stock
PwC and Deloitte chiefs sign Remain letter

Business Regulation PwC and Deloitte chiefs sign Remain letter

1y Kevin Reed, Writer
Leader: Audit competition drives change, not necessarily quality

Accounting Firms Leader: Audit competition drives change, not necessarily quality

1y Kevin Reed, Writer
EU audit reform to open up £10bn market for firms

Accounting Firms EU audit reform to open up £10bn market for firms

1y Richard Crump, Writer
Best Practice: Saffery Champness managing partner Rob Elliott

Accounting Firms Best Practice: Saffery Champness managing partner Rob Elliott

2y Calum Fuller, Reporter
Standard Life Investments opposes EY's appointment as Shell auditors at AGM

Accounting Firms Standard Life Investments opposes EY's appointment as Shell auditors at AGM

2y Richard Crump, Writer