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Source: Reuters -
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The bank worker responsible for a Rotorua couple being given $10 million in error is unlikely to be sacked, Finance workers' union Finsec says.
A service station owner and his girlfriend are believed to have skipped the country after gaining the multi-million windfall through a Westpac bank blunder.
Finsec's Andrew Campbell says the union has raised issues over the bank's loan process system with it recently, and it is an area the bank itself has been cracking down on.
Campbell thinks the transfer was probably was a data entry mistake and he says the bank worker responsible unlikely to be sacked.
"It's not uncommon in the day-to-day business of data entry in a bank for mistakes to be made," Campbell says.
"The general rule in relation to negligence is that if there's not intention, assuming there wasn't, then that's normally not gross misconduct, so generally wouldn't be a dismissible offence."
Campbell says several factors would be taken into account, such as the worker's previous record at the bank.
"There's no black and white answer," he said.
"If this person does end up being a Finsec member and we're asked to represent them, it's the sort of thing that, on the face of it, there'd be a reasonable degree of mitigating evidence."
The unnamed couple, believed to be Asian man "Leo" Gao, perhaps in his 30s, and his Kiwi girlfriend Kara (or Cara) Young, have not been seen since a $10,000 business overdraft application was mistakenly loaded as $10 million.
It has been reported that Westpac had recovered $4 million, but $6 million was missing.
READ MORE about the Interpol hunt for Leo Gao and Cara Young.
Finsec says it wants to talk to Westpac about recent internal changes over its paper trails on loans in the wake of the blunder.
What would you do? Run with the money or give it back? Ever found a sum of money in your account, you knew wasn't yours? Share on our message board below!
Add a Comment:
Post new commentsiping said on 2009-08-28 @ 16:35 NZDT: Report abusive post
I think Mr bentley is either living in a dream world or has ideas of NZ well above its station. Why would the Chinese gvt want to help NZ is one question, but to suggest we put pressure on China is ludicrous, NZ is, comparatively, a backward little puddle in the Pacific which no one outside of her shores takes seriously. Most Chinese I talk to here think Gao is a national hero.
pratalno said on 2009-08-28 @ 15:49 NZDT: Report abusive post
If they are in fact in HK, they'll certainly be caught at some stage. But if they are in Mainland China they will be able to live well forever here with that money and very unlikely to get caught (unless they want to leave the country) and if ever a police officer turned up, treat them to a dinner and flick them some cash and they'll turn a blind eye - that's the way it works here. Maybe they are quite smart~ :)
benrebo said on 2009-05-27 @ 09:56 NZDT: Report abusive post
Interestingly when the commerce commission rules banks have wrongly charged people (millions), and refused to give the money back when customers made them aware of it, they just get told to refund - no criminal charges. When someone takes money off them, and keeps it after the bank makes them aware of it, they are a criminal. Gao should be able to pay them back or if not face bankruptcy
rosebee said on 2009-05-27 @ 05:08 NZDT: Report abusive post
$3.8m? How long will that last. No surprise he went bust if this typifies his risk/benefit analysis
graememcg@xtra.co.nz said on 2009-05-25 @ 09:51 NZDT: Report abusive post
I hope they are caught. I was credits with 250k once in my bank account. Told the bank straight away, it was actually a transfer error on the part of another customer. Got a nice letter of thanks from both the bank and the customer for that. Personally I think living like they are and having to look over your shoulder, waiting for that heavy hand of the law, would be too much. Na, honesty is the best policy