Guys, let’s not get too worried over the numbers, they’re only lots of zeros after all.
The time to worry is when they start screwing up their spellings - I mean, if they don’t take care it could easily become the Bane of Ireland!
Tell your friend to send them a solicitors letter saying that they have caused him huge personal torment, demand that they return the money one more time, and then demand 45k to be paid directly into his bank account in compensation. Then wait and hope .
It was human error. It was supposed to be a transfer between accounts, but one account was credited with the money without it leaving the other. Explained to them carefully and they still fucked it up.
I kept it as a provision in his accounts for three years and then took it to profit.
Lucky bastard. A few years ago the revenue refunded him about 80k he wasnt due. Again, transfers between tax heads make the error essentially untraceable. There was a revenue audit, unrelated subsequently, but of course, they dont examine their work
That’s one of the more famous ones, but how many of you actually know what happened?
The RTE coverage of that story was so misleading and poor as to make it virtually impossible
to understand the nature of the overcharging.
For example, how many people realise that the “Overcharged” cost of FX from AIB at that time was still
cheaper than the “Legitimate” cost of FX from Bank Of Ireland.
I can tell you categorically that this isn’t true.
I’ve developed software in two Irish Banks and again and again we were warned that if there is a bug in
the software, it’s better it be in the customers favour than not. (obviously no bugs in the software was
what we were shooting for).
The Spectre of Joe Duffy (actually It was Marian Finnucane in my day) does loom larger than you might think.
These sorts of issues such as the Laser transactions at BofI are a real headache. People are dragged off whatever
they’re working on. Enormous effort to fix the issue, enormous cost.
Whatever you may think, it simply isn’t worth it for a bank to do something like this deliberately.
For one thing, I doubt you’d be able to get IT, and the various layers of testers to do it.