My views on Wells Fargo case:
By analyzing the case we can look at Two problems technology and people. In technology part the users didn’t receive any form of notifications like email, SMS etc. when the false accounts were created or credit cards were issued. So the system might not be based on the customer ID which gives the customer a holistic view of all the accounts. It suggests there is a loophole in the system which has been exploited. Imagine a case where these accounts could be used for illegal activities. It’s not just about creating accounts but the way they could use people information without their knowledge. Coming to the second one, people this case is little different from management was not directly involved in the case but when we look at the big picture the practice was across the bank which makes it look like a company practice rather than malpractice. The management greed for bonuses made thousands of employees lose their jobs. But how can one forget the simple fact that in transaction system the entry once made would be there forever and any inquiry in future would reveal the culprits.
References:http://www.forbes.com/pictures/eedh45gefdi/185-million-in-fines/#3a70ef5139d8
http://www.wsj.com/articles/wells-fargo-where-was-the-auditor-1478007838