(security) India takes on offshoring naysayers

It's not news if the fraud is "onsite", I guess :-( Or, as the article says, our reputation is less valuable than theirs...

India takes on offshoring naysayers | The Register

In June, an Indian worker was arrested for allegedly defrauding £233,000 from the accounts of about 20 HSBC customers. However, the Royal Bank of Scotland lost nearly 100 times that amount of money (£21m) to a man working for the bank in Edinburgh.

The story of his being jailed for 10 years broke almost simultaneously with that of the comparatively minor Indian fraud. But that was not all that was overlooked.

HSBC had insisted that its Indian centres suffered less fraud than those based in the UK. The Financial Services Authority (FSA) said British banks are more reluctant to report or prosecute their inhouse fraudsters, as doing so could tarnish their reputations.