Larisa Markus, the former chief executive of Vneshprombank, has just been sentenced by a Moscow court to nine years imprisonment for Russia's largest ever bank fraud.
The amount you ask?
A cool $2 BILLION.
My point is this. We all know fraud and cyber crime etc is very much on the rise and the banks seem to lack even the resources to fight this rising tide of criminality.
However, there is no doubt pursuing a criminal action and securing a long prison sentence will send out a very strong message and, I believe, will in due course reverse the trend of banking fraud.
A Moscow court has sentenced the former chief executive of Vneshprombank to nine years in prison for carrying out one of Russia’s biggest ever bank frauds.