1) Make a list of 10 very specific detective control activities that Wells Fargo
ID: 379231 • Letter: 1
Question
1) Make a list of 10 very specific detective control activities that Wells Fargo can implement to mitigate the occurrence of the ‘excessive overdraft charges fraud’ introduced in this article.
2) Make a list of 10 very specific preventative control activities that Wells Fargo can implement to mitigate the occurrence of the ‘excessive overdraft charges fraud’ introduced in this article.
Article:
Wells Fargo may have just made another boneheaded decision By Kevin Dugan August 23, 2017| 10:28pm | Updated Modal Trigger Wells Fargo CEO Tim Sloane is continuing the bank's history of dumb decisions -this time fighting a class-action suit that other banks have settled. Post photo composite Wells Fargo Chief Executive Tim Sloan has reassured customers he's doing everything he can to make up for past wrongs- except, apparently, if they got hit with excessive overdraft fees. Lawyers for the embattled bank will appear before an Atlanta federal appeals court on Thursday to argue that more than a million customers possibly dinged by excessive overdraft charges shouldn't be allowed to join a 9-vear-old class-action lawsuit If Wells Fargo succeeds, the bank could be spared from having to pay more than $1 billion in restitution, people close to the case said.
Explanation / Answer
Detective control is applied to take corrective actions and uncover problems in a current situation. The list of defective control measures that Wells Fargo may implement to mitigate the risk of litigation in the excessive overdraft charges case is given below:
The preventive control measures that can be implemented at Wells Fargo are:
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