With a stroke of a pen... 27M ANSA Bank Heist

[antlind]

Why didn't the banks internal audit committee pick up on these "discrepancies" within the first year of their occurrence?

https://theorg.com/org/ansa-merchant-ba ... a-cia-cisa

Interesting bio……

[88sins]

nothing interesting about it imho
But...

It have more in the mortar than just the pestle

[bluefete]

Why didn't the banks internal audit committee pick up on these "discrepancies" within the first year of their occurrence?

https://theorg.com/org/ansa-merchant-ba ... a-cia-cisa

Interesting bio……

Somebody clearly did not do their due diligence.

Did you notice the pronouns used? LOl.

Anyway, she just joined and the scam was ongoing since 2020. So who was the previous Internal Auditor?

[Dizzy28]

Allegedly One of the persons in that scam used to work in another local bank and was asked to leave bc of impropriety. Does ANSA Bank not do due diligence on new hires?

[bluefete]

Allegedly One of the persons in that scam used to work in another local bank and was asked to leave bc of impropriety. [b]Does ANSA Bank not do due diligence on new hires?[/b]

It does not seem so at all. I wonder if this is why Hill left and went to Barbados.

Trust me, this would not have happened under old man Sabga.

Sabga III have plenty questions to answer from daddy (Norman).

[Dizzy28]

I remember before ever starting work at FCB it was one set of background checks. They interviewed neighbours and called everyone you listed as a reference.

Allegedly One of the persons in that scam used to work in another local bank and was asked to leave bc of impropriety. [b]Does ANSA Bank not do due diligence on new hires?[/b]

It does not seem so at all. I wonder if this is why Hill left and went to Barbados.

Trust me, this would not have happened under old man Sabga.

Sabga III have plenty questions to answer from daddy (Norman).

[Mmoney607]

Le Hunte, the Ghanaian was head of ansa bank

[88sins]

Allegedly One of the persons in that scam used to work in another local bank and was asked to leave bc of impropriety. [b]Does ANSA Bank not do due diligence on new hires?[/b]

It does not seem so at all. I wonder if this is why Hill left and went to Barbados.

Trust me, this would not have happened under old man Sabga.

Sabga III have plenty questions to answer from daddy (Norman).

From what I can recall, he didn't leave, he was sent.

[bluefete]

Allegedly One of the persons in that scam used to work in another local bank and was asked to leave bc of impropriety. [b]Does ANSA Bank not do due diligence on new hires?[/b]

It does not seem so at all. I wonder if this is why Hill left and went to Barbados.



Trust me, this would not have happened under old man Sabga.

Sabga III have plenty questions to answer from daddy (Norman).

From what I can recall, he didn't leave, he was sent.

Well, papa. I was wondering why ANSA McAl did such an effusive, full page ad praising him up and thing before he left. I never saw them do that for ANY employee before.

https://www.guardian.co.tt/business/reg ... bfd28c4912

[Country_Bookie]

ANSA Bank #InsideJob Update #1
Roughly 3 weeks ago ANSA Bank took 7 employees and 6 clients to court for scamming the bank. After an investigation was triggered by a whistle-blower the Bank discovered that it had lost $35m over two years in loan transactions centred around vehicles, real estate and heavy machinery. That $35m is a very safe estimate as sauces who have reached out to us have indicated that the losses are likely to be well over $100m. It would explain why the Bank insisted on freezing assets up to $69m from the 7 employees and 6 dealerships.
But you must be wondering how exactly the #InsideJob worked?
It was a complex network of car dealers, con artists hired to pose as loan applicants, forged documents and even an insurance company.
So here is how it worked.
The local car dealership would hire someone to apply for a loan. These dealerships already had business accounts at ANSA Bank, so they were known to the lending institution already. The owners of the dealerships would then provide fake job letters, fake bank statements and any other documents needed to qualify for a bank loan. The names of actual companies existing on our Companies Registry but not actually functioning were used by forgerers to create company documents. That way, if a Search was done on these applicants,the companies they were fronting as employees for existed.
These loan applications would happen within 3 business days. Bear in mind that employees of ANSA Bank were in on the scheme. So, processing happened quickly.
Once the loans were approved, monies were then transferred from ANSA Bank to the accounts of the car dealership. The fake loan applicants were paid a fee for their work and disappeared. Some of the applicants had fake identification.
So How Were The Loans Paid?
I'm so glad you asked. Informants have corroborated that in many instances these bogus loans were paid for a few months. As many as five to six months, most likely with money from the very loan taken out. The car dealers paid the loans. After that period one of two things is alleged to have happened:
1. Either bank employees sought to make the loan "fade" from the system or;
2. The imaginary car, that had real insurance, would be reported as stolen so that the insurance policy could be cashed in and used to pay off the loan.
Wait what?
Yes. All of these fake vehicles also came with forged certificates of ownership. Checks with the Transport Division here confirmed that there were forged certificates of ownership made and issued for the scam. However, the source of the forgeries were external to Licensing División. The fraudsters used the wrong type of paper for printing the fake documents.
With these faked certificates of ownership, at least one insurance company that Newsauce is aware of issued insurance for cars.
With that insurance in hand, claims can be cashed in on for 'stolen' cars. The dealers get the claim money. The dealers pay off the loans. And still have all the cash they received from the bogus loan application.
The monies from the bogus loans would then be used to bring in shipments of RO/RO vehicles that they would continue to sell for a tidy tidy profit.
So, to recap: Car Dealers + ANSA Bank employees + Fake Loan Applicants + Forged Documents + Bogus Insurance claims = Magnificent Inside Job.
And this entire thing also happened with Massy Finance.

Was a bit skeptical of the "sauce" here but they seem to have a lot of details.

[DMan7]

Looks like the man who wrote that accustomed to using Web Sauce

[88sins]

Well, papa. I was wondering why ANSA McAl did such an effusive, full page ad praising him up and thing before he left. I never saw them do that for ANY employee before.

https://www.guardian.co.tt/business/reg ... bfd28c4912

It happens
Is kinda like when you find ppl in executive position engaging in improper/questionable conduct and they are told to resign and they comply, otherwise if their actions were to be made public knowledge by their dismissal and maybe even arrest, it will make the company and its owners/management look like incompetents. That don't work well, especially after you take years to build a company's image.
Because usually, is not one person does be involved. You know how embarrassing it is to tell shareholders that the ppl you hand pick as the best candidates to do a job been robbing the organization for years? That kinda thing does put shareholder confidence in the toilet

[pugboy]

the persons accused didn’t seem like popular dealers

i see a big foreign used dealer always advertising same day loan approvals

[mero]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

[zoom rader]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

Injuns are decent citizens mero.

The few that commit crimes that resemble African crimes most likely grew up in red hot spots and wear that pants on their knees while signing vibes Cartel garbage songs. Them is not injuns and lost souls.

[Chimera]

lol zoom yuh is a dred pest eh

[gastly369]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

Injuns are decent citizens mero.

The few that commit crimes that resemble African crimes most likely grew up in red hot spots and wear that pants on their knees while signing vibes Cartel garbage songs. Them is not injuns and lost souls.

Rip dole..... Fly high king

[mero]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

Injuns are decent citizens mero.

The few that commit crimes that resemble African crimes most likely grew up in red hot spots and wear that pants on their knees while signing vibes Cartel garbage songs. Them is not injuns and lost souls.

Zoom I know u did not learn this in temple nor Rastafari tabernacle.

This is not the teaching of Shiva nor His majesty.

Are u a fake hindu as well as a fake Rasta?

Who are you zoom? Change your ways please. There are many here who look towards you for guidance daily. Cut that ponytail and cleanse your heart and mind

[wing]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

Injuns are decent citizens mero.

The few that commit crimes that resemble African crimes most likely grew up in red hot spots and wear that pants on their knees while signing vibes Cartel garbage songs. Them is not injuns and lost souls.

Zoom I know u did not learn this in temple nor Rastafari tabernacle.

This is not the teaching of Shiva nor His majesty.

Are u a fake hindu as well as a fake Rasta?

Who are you zoom? Change your ways please. There are many here who look towards you for guidance daily. Cut that ponytail and cleanse your heart and mind

Those that look to him for any sort of guidance are worse than him.

[Chimera]

lol really who here does look to zoom for any sort of guidance unless is kix thing

[zoom rader]

Shiva bless dem injuns

No home invasions or kids was killed in the process

We rewarding criminals with blessings from Shiva now boy zoom?

Yuh lost my lord.

Injuns are decent citizens mero.

The few that commit crimes that resemble African crimes most likely grew up in red hot spots and wear that pants on their knees while signing vibes Cartel garbage songs. Them is not injuns and lost souls.

Zoom I know u did not learn this in temple nor Rastafari tabernacle.

This is not the teaching of Shiva nor His majesty.

Are u a fake hindu as well as a fake Rasta?

Who are you zoom? Change your ways please. There are many here who look towards you for guidance daily. Cut that ponytail and cleanse your heart and mind

Nah dred , I follow the teachings of Ethiopian Church under his Majesty and closely watch the Hindu fate.

I had plan a pilgrimage to Ethiopia, but had to cancel due to the ongoing civil war and was advised not to go as yet.

[K74T]

Zoom, how does Jah bless everyone but not you? Are you not worthy?

[zoom rader]

Zoom, how does Jah bless everyone but not you? Are you not worthy?

I seek the good in man kind

But PNM & Mero mudda cont

[88sins]

Zoom, how does Jah bless everyone but not you? Are you not worthy?

I seek the good in man kind

But PNM & Mero mudda cont

Well that escalated quickly

[AlphaMan]

Seriously though this is organized white collar crime from senior workers being paid to act as due diligence officers..
How could this have been prevented..couldn't in my opinion.

[Team Loco]

This crap has come home to me as the bank is threatening to repossess a vehicle in our fleet. A vehicle that was financed by ansa via one of its fraudulent employees. They are missing several payments although we have proof of payments being made. What a mess

[Dizzy28]

This crap has come home to me as the bank is threatening to repossess a vehicle in our fleet. A vehicle that was financed by ansa via one of its fraudulent employees. They are missing several payments although we have proof of payments being made. What a mess

This sounds more like a "their" problem and not a "your" problem

[VexXx Dogg]

if you have proper records showing payment, they could take a flying firetruck at a rolling doughnut

[j.o.e]

This crap has come home to me as the bank is threatening to repossess a vehicle in our fleet. A vehicle that was financed by ansa via one of its fraudulent employees. They are missing several payments although we have proof of payments being made. What a mess

Wow that’s wild. Sounds like they’re willing to pay you some damages for their lack of internal regulations. Lawyer will make a meal of this.

[Jerry84]

This crap has come home to me as the bank is threatening to repossess a vehicle in our fleet. A vehicle that was financed by ansa via one of its fraudulent employees. They are missing several payments although we have proof of payments being made. What a mess

Wow that’s wild. Sounds like they’re willing to pay you some damages for their lack of internal regulations. Lawyer will make a meal of this.

This is so accurate. Let them repossess the vehicle then milk them in court