Mainstream media is awash this week with the suing of Barclays Bank over their ‘dark pool’ fraud.
Yet again one of the planet’s largest financial institutions is witheringly exposed.
New York attorney general Eric Schneiderman has been across the airwaves alerting the wider world to “a flagrant pattern of fraud, deception and dishonesty with Barclays clients and the investing public”.
One section of his comments was truly alarming.
It seems that investors were pitched that their money would be placed in the most relevant, and best for them, place. Yet a staggering 75% of all money duly went to their own venues, regardless of where the best deal lay.
Mr Schneiderman goes on to explain that on one sales presentation, a senior Director was instructed to alter this 75 percent figure on a Powerpoint slide to a mere, less worrying, 35. When he refused, he was fired.
I instantly recalled an old phrase that’s stuck with me throughout my sales career; cheating isn’t winning.
You must use accurate numbers. Always.
Misleading figures will be found out. They will expose you. You will quite rightly suffer.
Apparently there are 24 instances of the word “toxic” in the lawsuit.
Don’t land yourself in similar poisonous terrain.
Throughout all slidedecks and proposals, strive to make sure all your numbers are the right ones.