We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

See Pricing

What's Your Topic?

Hire a Professional Writer Now

The input space is limited by 250 symbols

What's Your Deadline?

Choose 3 Hours or More.
2/4 steps

How Many Pages?

3/4 steps

Sign Up and See Pricing

"You must agree to out terms of services and privacy policy"
Get Offer

The BCCI Fraud Case

Hire a Professional Writer Now

The input space is limited by 250 symbols

Deadline:2 days left
"You must agree to out terms of services and privacy policy"
Write my paper

The BCCI Fraud Case For many years the Bank of Credit and Commerce International (BCCI), committed one of the most elaborate fraud of its time. The BCCI generated roughly $15 billion in false revenues. The people who stood to lose the most were the individuals involved With producing these funds and a select set of treasured clients. According to the New York Times the bank had been up to suspicious acts beginning in the early 1980’s it was a ‘”‘stateless” bank that operated in the United States and about 70 other countries, chartered in Luxembourg, run by Pakistanis, owned by Arabs, headquarters in Britain and serviced by outputs in the Cayman Islands, a well-known haven for private banking.

” The bank soon had a nickname of the “Banks of Crooks and Criminals”. Even though employees noticed the book keeping was a little Off, none of them knew the full extent of this large fraud. In many instances when there was not enough funds to cover the banks obligations and forwards to their selected customers they would just take from other depositors, and reinvest that money in the bank.

Don't use plagiarized sources. Get Your Custom Essay on
The BCCI Fraud Case
Just from $13,9/Page
Get custom paper

The most shocking thing is that the group of people who pulled this off, only consisted of under 30 people. Certain documents were off limits for other employees, but this group was said to be the keepers of the secrets. What made the fraud so much more elusive was the idea of a “bank within a bank”. When the bank needed money they would just funnel money in from somewhere else to make the books appear correct. So many aspects of the case should have set off red flags long before it was actually discovered.

Cite this The BCCI Fraud Case

The BCCI Fraud Case. (2018, Apr 03). Retrieved from https://graduateway.com/the-bcci-fraud-case-essay/

Show less
  • Use multiple resourses when assembling your essay
  • Get help form professional writers when not sure you can do it yourself
  • Use Plagiarism Checker to double check your essay
  • Do not copy and paste free to download essays
Get plagiarism free essay

Search for essay samples now

Haven't found the Essay You Want?

Get my paper now

For Only $13.90/page