When fast is too fast: typing errors that cost money

There is always a tension between speed and accuracy in business.

But in some areas accuracy is non-negotiable, pareticularly when the action is implemented instantaneously and may not be able to be reversed.

The Times Online has a story about clumsy typing which cost a Japanese bank at least £128
million and staff their Christmas bonuses, after a trader
mistakenly sold 600,000 more shares than he should have.

The story links to previous stories of financial losses caused by trader errors.

 

Your Compliance Support Plan

We understand you need a cost-effective way to keep up to date with regulatory changes. Talk to us about our fixed price plans.