Bank group warns of consumer crisis and money laundering. (European Savings Bank Group warns of consumer policy problems)

Management Accounting (UK), September, 1996 by Jay, Martin

Some of the less scrupulous banks are basing their operations entirely on electronic banking and 'cold calling,' activities which should merely complement mainstream banking services, according to the European Savings Bank Group. This group has criticised the consumer Green Paper adopted recently by the European Commission for failing to deal with a number of important issues. These include the liberation of the traditional structure of 'privileged access' to the central banks of member states.

Warnings have been voiced that electronic banking and `cold calling', which should be complementary to banks' established services, are becoming the sole business of some so-called banks. There are also fears of the `dire implications' of internet banking

Responding to a...

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