In Australia this week there was an interesting story that captured my attention. You can read the article here, but the short version is that one of the big 4 banks over here in Australia (Westpac) provided a student with a bank account with a 4 million dollar overdraft facility. I assume it was an accident on the banks behalf, but still, that’s a pretty huge mistake.
The other big thing that caught my attention was that the bank didn’t seem to notice for almost a full 2 years while she spent the whole thing on handbags and penthouses – that’s insane! How can a business not know millions of dollars were missing?
Anyway, the whole thing got me thinking – what would you do if a bank dropped 4mil into your bank account? I asked a couple of people at work, and the majority of them said they would skip the country with it. I’m not so sure. Yes 4 million is a lot of money, but I don’t think I would like the lifestyle of a rich fugitive. Plus, i’d likely have to stay in some back water of a country where the quality of life wouldn’t be as high.
Would you take the money and run, or tell the bank there had been an error?