Barclays: Top of class in the school for scandal

Thu 30th Aug 2012, 1:00pm

Barclays under investigation by Serious Fraud Office over payments to Qatar sovereign wealth fund

The serious fraud office has confirmed that it has opened investigations concerning payments from Barclays to the Qatari Sovereign Wealth Fund the bank turned to in 2008 to avoid being bailed out by the UK taxpayer.

Danni Paffard, spokesperson for Move Your Money UK said:

"Barclays have been at the forefront of every scandal from PPI, to Libor, to the unrelenting bonus culture. Amidst this, Bob Diamond has stood in front of the Parliamentary Committee and defended the strength and integrity of the bank through its ability to raise money through Qatari wealth funds, instead of taking a taxpayer bailout.

Now these very same transactions are being investigated by the Serious Fraud Office, the banks integrity is again under question. As Barclays continues to ride rough shod over the law, disgruntled customers need to say 'enough is enough' to the worst of the British Banks."

Barclays announces new Chief Exec Antony Jenkins
 

Barclays has announced the appointment of Antony Jenkins, formerly in charge of consumer banking, as Chief Executive following resignation of Bob Diamond over Libor scandal

Danni Paffard, spokesperson for Move Your Money said:
 
"Barclays has simply swapped one of its senior bankers for another. The fact that they have appointed a prominent retail banker, Antony Jenkins, as Chief Executive is nothing more than a cynical move to make this change seem more significant than it is. This will do nothing to change the DNA of an organisation repeatedly caught pursuing short term profit at all cost, regardless of its customers or the law.

Ultimately, cultural change comes from the bottom up not from the boardroom, thats why its up to consumers to fix our broken banking system by moving their money out of banks like Barclays." 

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