The Anonymous Widower

The Australian Diamond Dealer

This is a tale that I am pretty sure is true.  But on the other hand it might just be one of those tales that passes down from teller to teller gathering more and more embellishments as time goes on.

In the 1970s, I used to work as a consultant to a clearing bank.  I’m not going to say which, but it probably can be ascertained by those who know me.  In that case, you’re wrong, as either it’s another bank or the tale was about another.

On the computing side banks went through a lot of changes at that time.  Remember that D-day when we went from £sd to £p was the 15th February 1971 and also computers were starting to replace manual systems.  So there was a large scope for mistakes and possible fraud.

This Australian, who claimed he was a diamond dealer turned up at a Central London branch, saying that he’d like to open an account.  He had a reference from an Australian bank and backed it with a substantial cash deposit. He said that he was spending a few months in “the old country” and when he returned, he would take all the money out of his account in cash to purchase diamonds to take back.

It all sounded feasible and over the months, nothing raised any suspicion in the bank.  Money came into the account and just as quickly came out in cash to buy diamonds.  But never at any time did the account go into the red.

Then, the Australian announced that he was going back to Oz and on a particular day he would draw the money out of his account in cash and close it.  He left a forwarding account for any charges or extra payments that might accrue.

It was only noticed later that the date he would leave was a few days after the branch was computersied.  And someone went in and changed the paying-in slips in the branch for ones where the account number had helpfully already been filled in.

You’ve guessed it, but it was the Australian’s account.

I heard this tale twice and let’s say that a very nice six figure sum disappeared.

In one version, he wasn’t even Australian!

September 2, 2009 - Posted by AnonW | Computing, World | Banks, Crime