Overview

Uncovering illicit banking on 'high street' Based on a true story. A must read for all interested in regualtory oversight in banking, compliance, audit and financial supervisory authorities This plot delves into the intricacies of 'inattentional blindness' within regulatory oversight, shaped by new regulatory measures and human behavior. Valuable corporate customers with stellar credit ratings are welcomed to unethically exploit the banking system for less-than-honorable activities, concealed behind mundane appearances. This occurs because senior management in banking lacks the required mental bandwidth, allowing middle management to let valuable customers engage in unethical or even illicit movements of money within the banking system, adeptly camouflaging essential traces. Due to the prevailing lack of holistic regulatory oversight, where supervisory stakeholders overlook or fail to notice crucial details, unethical banking managers, driven by a desire for financial gain, exploit loopholes. In certain instances, they stand in direct violation of laws governing financial crimes. As accountability becomes paramount, a loophole approach is embraced by the bank, which profits significantly. In this scenario, the blame falls on the corporations pulling the strings, and if things become messy, it's attributed to the auditing firm rather than the involved banks. The central narrative of this story revolves around an outsider, Simon, who, despite being a valuable banking customer, uncovers a concealed loophole that remains largely undisclosed beyond the confines of the 'high street.' The endeavor unfolds as Simon embarks on an intricate quest to save an institution, grappling with moral dilemmas. Simon, believing he needs to save his company, finds his self-image eroding throughout the endeavor due to his involvement with cynical bankers and criminals.

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