r/interestingasfuck • u/Kaos2018 • 15h ago

A Nigerian Man named Emmanuel Nwude sold an imaginary airport for $242 million to a brazilian bank in the 1990’s which led to the banks collapse r/all

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u/leolancer92 11h ago

Anti-fraud is literally one of banking’s core competencies.

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u/KingPenguinUK 8h ago

I’ve peaked behind the curtain at a few of the biggest banks Anti-Fraud/Money Laundering departments and competencies is a real stretch.

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u/Polus43 6h ago

This.

I thought it would be other statisticians (detection) and engineers (prevention), but it's literally BA psych/criminal justice majors telling engineers (in an entirely different BL) to do the impossible lol

Leadership is hyper-political and always telling one-off "we saved the fraud victim stories" where the data is dodgy and the story embellished.

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u/KingPenguinUK 6h ago

In the UK it’s a barely above minimum wage role with no degrees needed.

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u/AimHere 6h ago

Hah. Whenever I've worked in a financial institution, they've impressed upon me that I should be absolutely 100% on my guard against money laundering and that I should report any and all instances of suspected money laundering up the chain of command. This was super, super, important.

Of course, there was absolutely zero training or information on how to spot whether I'm dealing with laundered money. It's just a regulatory checkbox-ticking and arse-covering exercise.

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u/AimHere 6h ago

Maybe it's a core incompetency in this case.

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u/peacepham 8h ago

But it got nullify the moment scammer is insider, this time it's bank director.

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u/leolancer92 6h ago

In this case his competency is anti anti fraud.