Serious Prudential policyholders affected by erroneous deductions from bank accounts Read more at https://ww

[vamjok]

https://www.channelnewsasia.com/new...ffected-by-erroneous-deductions-from-10275512

Imagine suddenly you have a huge surplus of cash for leverage for few hours. You can do a lot of things, and a lot of things can happen before the money is returned to the affected parties.

Your ability to leverage increased substantially.....

I personally do not think this is a technical error. A huge amount of money can be washed in this fashion as well.

imagine: I have a huge amount of dirty money that cannot see the day. Suddenly a party has the ability to lend me a certain amount of cash with certain interest rate. If i am able to borrow that cash, these dirty money can see daylight again...all I need to do is pay that small interest fee....

 

[zhihau]

Bro, just don't use that money from Jibby...

 

[AhMeng]

KNN. Better go check my bank account later. Jibuy Prudential. oIo

 

[JohnTan]

GIRO payment means the merchant can deduct as much as they want from your bank account anytime they want. LOL

 

[musashi]

Looks like:
en.wikipedia.org/wiki/Prudential_plc
is not so:
collinsdictionary.com/dictionary/english/prudential
or:
collinsdictionary.com/dictionary/english/prudent
after all. :p

 

[eatshitndie]

https://www.channelnewsasia.com/new...ffected-by-erroneous-deductions-from-10275512

Imagine suddenly you have a huge surplus of cash for leverage for few hours. You can do a lot of things, and a lot of things can happen before the money is returned to the affected parties.

Your ability to leverage increased substantially.....

I personally do not think this is a technical error. A huge amount of money can be washed in this fashion as well.

imagine: I have a huge amount of dirty money that cannot see the day. Suddenly a party has the ability to lend me a certain amount of cash with certain interest rate. If i am able to borrow that cash, these dirty money can see daylight again...all I need to do is pay that small interest fee....

yes, can easily claim it's a "technical error" while within 24 hours can use surge in cashflow to short (international stock) markets in various time zones for a quick buck. the amount made within 24 hours can be way more than the amount they intend to reimburse customers with "interest lost". of course, they will use soothing and reassuring phrases such as "as quickly as possible" and "our bank partner", and "intend to credit...back". most likely it won't be within 24 hours but more than 69 hours as they will come out with stalling statements such as "we need to investigate first before refunding any relevant amount". for sinkies, use giro auto-payments in sg at your risk and peril. there's no limit on how much they can screw you. this is an area where mas can place a cap on auto-withdrawals using giro, e.g. any monthly premium that is beyond $696 should be paid with a different credit mechanism, such as a "soixante neuf" account with a minimum of $6.9k balance meant for big ticket items: mortgage, auto payments, etc.