Why Financial Crimes May Thrive At Agent Locations?

    0
    Financial Crimes

    Our financial system needs to make agent locations difficult for financial crimes.

    We must enforce the players to stop certain practices that aid & albeit crimes. Notable practices from major players;

    1) THE BANKS : The banks tend to ignore attempted crimes in an attempt to protect their customers. Examples: A fraudulent customer who used pos at a store or agent location, got value and still approached a bank to claim dispense error. That is attempted fraud which the bank should track down & arrest but they just decline & let criminal go & try some other times .

    A wrong bank transfer : Several banks ignore even a court order served on them and still services the customer who cashed out such funds .

    2) Police : Most agents may not report criminals because police always need mobilization to carry out investigations & make arrests ( fraudster call line expansion /tracking , fueling , team motivation etc ) . Such budget usually too big for agent to fund .

    So, criminals are left to enjoy.

    3) Reporting channel : Agent locations could have being a good intelligence sharing points but no activated channel either from agent principals or law enforcement agents .

    Read Also:  3 Ways Global Consumers Will Shop Differently This Holiday Season

    4) Judicial system : Our courts can drag a clear fraud case for years . In fact , the plaintiff will even be calling for discontinuation due to frustration of adjournment ( either judge wife is sick or it’s time for court annual break ) And more Our financial system indeed requires protection especially at the agent level.

    By