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Originally Posted by monaghan ?40M of insured cash from a big outfit is a bit different from loss of revenue from a small outfit. |
So the banks pay the insurance premiums from the money we pay them in bank charges and loan interest. Make a claim and the insurance premiums go up.
The insurance company pays out ?40M back to the banks so the insurance company is ?40M down. The same insurance companies that look after your home and car insurance, your pension, endowments and other savings products.
If the stolen money is used in organised crime then expect it to be used to traffic drugs or something equally nasty. The same drugs that could well be offered to your son or daughter while they're at school.
No man is an island, everything that happens has a knock on effect.