Britain is the world capital of bank fraud

Originally published at: Britain is the world capital of bank fraud | Boing Boing

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So then Brexit was a good idea then? /s

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Seems like this article is talking about personal fraud. One person scamming another. Because institutional fraud, like when a big bank scams its own customers out of billions, would add up to far, far more (see: Wells Fargo).

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There’s also a huge lack of empathy among the general populace.
One thing I’ve noticed since moving to London 15 years ago is that a lot of Londoners think nothing of pursuing some form of minor criminal activity. And the result of this is a lot of victim blaming when it comes to crime.
If you’re a victim of fraud, quite often the perception is that it’s your fault.

This also feeds back in to our acceptance of being governed by Tories who are in the majority, robber barons.
“Tories fucked you over? That’s your fault innit.”

It’s the end stage of Maggie’s policies focusing on the individual rather than the community.

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This race to the bottom between the UK and US is fascinating to watch. Right now the GOP is probably formulating a bill to allow special visas for Nigerian 419 scammers in order to one-up the Tories.

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‘World beating’ ™ Boris Johnson.

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Being a small time crook in England is extremely safe by international standards. Acceptance of the state’s monopoly on coercion is internalized there in peculiar ways. A deep reluctance to retaliate, a deep aversion to vigilantism, but a lot of superficial play-acting along those lines. Exquisitely soft targets for financial crimes because you don’t have to be covert (or even unknown to your victims) to get away with it. They just sit there in quiet shame and fury, eating it.

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It seems very much adjacent to the tax evasion and money laundering that garbage island is known for and confirmed in the Pandora Papers. Not that any of this is particularly new, apart from the devil being very much in the details of Tory MPs being funded by Russian money and whatnot. Isn’t this all part of the same ball of wax? Whereby we have a government on salaries entirely dependent on them not understanding this stuff.

https://pluralistic.net/2021/10/04/avoidance-is-evasion/#transparency

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Hooray! We’re winning at something!

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Brexit was at least partly so that the City could continue to launder ill-gotten money, so yes, but not this particular type of bank fraud.

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Danny Devito Smh GIF

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Or: “Yes, Brexit was meant to enable banking fraud, but in this case it’s the wrong people getting the proceeds. That is: it’s not the banks.”

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That’s a much better way of putting it.