go into meltdown - like Northern Rock on a grand scale - what would happen - I know this is a hypothetical question but I for one am going to transfer to another account - it will be hassle but no more hassle than trying to get compensated if if you are cloned.
2007-11-20 18:42:38 · 13 answers · asked by georgeygirl 5 in News & Events ➔ Current Events
It's not an impossible senario as some might think. This incident is a colossal disaster that was waiting to happen and has happened. But given that many UK (and US) banks and insurance and medical companies have moved their backroom operations to India, there are many similar disasters that are in the pipeline (some already have quietly bubbled through). Data of millions of people can now be easily removed from depository on a tiny DVD disc and pendrives, and backup tapes are regularly made. You should see how easy it is for junior staff and their relatives to gain access to such items in the casual society of India. It'll make your hair curl! And the govt is planning to use off-shore companies like these. Check out your high street banks where they are keeping your data.
2007-11-20 18:58:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I'm going to change bank accounts. Great, what a load of hassle that involves. I have to inform:
1. My local council regarding this month's Council Tax payment- they may not get one, so I am risk of Court Action
2. TV Licencing-again, may not receive this month's payment. £1000 fine plus prison. Whoopee!
3. My employer- I may not get any wages!
4. The HMRC- regarding Child Benefit and Child Tax Credit payments-hold on, aren't these the same focking idiots that caused the focking mess in the first place?
2007-11-20 20:01:09 · answer #2 · answered by xenonvalkyrie 6 · 2⤊ 0⤋
Well i confess that i am not affected in the 25 million figures but what i cannot countenance is that this was known about a MONTH ago, so how come it's just come to the notice of the government, or did i miss something.
2007-11-20 19:06:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
My thoughts entirely, If this was a bank or credit card or phone company then their would be a mass panic.
Because its our government people still blindly think its not such a bad thing.
Get 'em out!!!!
2007-11-20 19:11:10 · answer #4 · answered by Jason D 1 · 0⤊ 0⤋
It Can't be done. The Banks don't have all that money -
Why do you think it's such a HUGE issue to the Govt?
http://en.wikipedia.org/wiki/Fractional-reserve_banking
2007-11-20 18:58:47 · answer #5 · answered by Anonymous · 1⤊ 0⤋
IR always have back up . Computor systems are not designed with out provision of system crash. So do not feel happy. Yhis types of mishaps are common and provided for in the system
2007-11-20 18:56:09 · answer #6 · answered by Anonymous · 0⤊ 0⤋
The money would just go to other banks so there would be no "melt down".
2007-11-20 18:52:53 · answer #7 · answered by Well, said Alberto 6 · 0⤊ 0⤋
yeah that's great in theory, but what about all the people with direct debits? unfortunately we need our bank accounts.
2007-11-20 19:14:38 · answer #8 · answered by faddyO 5 · 1⤊ 0⤋
If all the cash was withdrawn the bank would close as they don't actually have your cash they have it invested somewhere.
2007-11-20 19:11:10 · answer #9 · answered by Agent Zero® 5 · 0⤊ 0⤋
i thought about that. the banks should be fine, if we all did that we'd only be swapping, we don't all use the same bank.
2007-11-20 19:01:57 · answer #10 · answered by Kerry 7 · 0⤊ 0⤋