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"Shadow Ledger"

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  • "Shadow Ledger"

    When a debt has been called in is it common practice for UK banks to use what can only be decribed as "shadow ledgers"
    I know for a fact that when secured borrowings are demanded YB cease to provide statements and set up an additional account database that is maintained by secured recoveries. There are major differences in how the two systems are operated.

    The Australian Watchdogs are already investigating the use of Shadow Ledgers

  • #2
    Re: "Shadow Ledger"


    I know of at least 3 account databases YB have in play when a debt has been called in.

    1. Mainframe system
    2. Branch system
    3. Secured recoveries system


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