BANK FRAUD. The elephant in the room?

[Paul Catanach]

I know this forum is decorated with cobwebs and tumbleweed but I'm surpised that this hasn't been brought up here before now.

Are we saving ourselves for the AGM, just pretending it didn't happen or.....something else?

[ChampChump]

Mostly putting the boot in on Flyer, by the look of it, Paul.

[Timothy]

After the full and open report we read yesterday, is there much more to be said?

Lots of intelligent and diligent people are successfully defrauded every day. Don't let us victim-blame.

[Paul Catanach]

I don't think anyone wishes to blame the person who was hoodwinked but there are some glaring details that warrant attention.

Committees, including the Fraud and Safety Committee, that didn't meet for three years with no explanation?

No apparent checks and balances on the movement of large sums of members money?

Painful as it is the membership deserve to know the details, warts and all, of how we allowed this to happen, what we are doing to prevent a recurrence and as no small aside, what the banks are doing to effect a recovery. In aviation we strive for a just culture but in order for that to work and for all parties to learn and trust the system we need to be frank, open and honest.

Anything less and we might as well sweep the whole thing under the carpet.

[DaveWhite]

I do think that yesterday's email should have also included a report on what has happened since the report was presented to the Board in August.

The membership should really have time to consider that information prior to the AGM, rather than await a "short" (why short? I'd hope there is much to say) presentation on that date.

Not all members can attend the AGM either.

[GBCHP]

My wife was recently subject to the very same scam. Thankfully we lost nothing but we came close. A friend lost 17,000.

The fraudsters are very good and my heart goes out to the LAA.

[MatthewC]

I don't think anyone wishes to blame the person who was hoodwinked but there are some glaring details that warrant attention.

Committees, including the Fraud and Safety Committee, that didn't meet for three years with no explanation?

No apparent checks and balances on the movement of large sums of members money?

Painful as it is the membership deserve to know the details, warts and all, of how we allowed this to happen, what we are doing to prevent a recurrence and as no small aside, what the banks are doing to effect a recovery. In aviation we strive for a just culture but in order for that to work and for all parties to learn and trust the system we need to be frank, open and honest.

Anything less and we might as well sweep the whole thing under the carpet.

I don't blame the individual, I blame the LAA's procedures. There is a "Risk and Audit Committee" who one would have thought would spot the dangers of letting a single person have the authority to transfer so much money without any second authorization? Banks can do dual authorization on-line - I know, I do that sort of thing often, even for small sums.

If you want them to pay any bills without dual authorization, you give them access to a suitable single account with just a small sum in it.