{"id":16358,"date":"2019-11-29T20:37:45","date_gmt":"2019-11-29T19:37:45","guid":{"rendered":"https:\/\/fiala.de\/interest-fraud-with-system\/"},"modified":"2021-01-26T15:51:28","modified_gmt":"2021-01-26T14:51:28","slug":"interest-fraud-with-system","status":"publish","type":"post","link":"https:\/\/www.fiala.de\/en\/interest-fraud-with-system\/","title":{"rendered":"Interest fraud with system"},"content":{"rendered":"\t\t
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How banks and credit institutions earn money with incorrect interest calculations<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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We Germans are known beyond our national borders for our preference for cash and savings books<\/strong>. In a European comparison, we are the undisputed number one with a savings rate of approx. 17 %. Our confidence in saving seems to be unshakable and despite banking crises and persistently low interest rates, we are sticking to the goodold savings book<\/strong>. Even our basic trust in banks and savings banks<\/strong> seems to be irrefutable, because, as the German federal government already said during the financial crisis of 2008, “savings deposits are safe”<\/strong>. That seems to reassure us to this day. However, the question we should have asked ourselves today and even then is a different one. Are we and our hard-won savings safe from the banks and their products?<\/strong><\/p>\n

The answer to this question can be answered with a clearno<\/strong>, because most of us are simply not sufficiently familiar with the subject matter<\/strong> and depend on the statements of the bank advisor or insurance agent. Once we have decided on a product, we rarely question it and our decision. More devastating, however, is the fact that most of us do not check whether the bank’s statements and interest promises are correct. This makes us as investors easy victims for the financial world<\/strong>, who lure us into the interest trap with increasingly complicated products and settlement models<\/strong>. The digitalisation of banking processes and the automation of interest settlements and account management additionally lull us into a supposed security. The widespread opinion is that machines do not make mistakes.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Which savings products are affected by systematic interest fraud<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The basic principle here is no special products are in the focus of the banks<\/strong>. For example, incorrect settlements<\/strong> and fraudulent interest calculations were found for different savings models, loans and insurance<\/strong>. Nor can systematic fraud be reduced to specific banks or savings banks<\/a>. It is worth recalculating, because according to the current state of affairs well over 30 products<\/strong> are known to be affected by banks, and with long maturities the damage can quickly amount to several thousand euros.<\/p>\n

According to the current status, the following products, among others, are affected:<\/p>\n