7. RBS and Dash for Cash
Loss: £400 million
Year: 2016
This shocking incident is also known as “Dash for Cash” scandal. RBS stands for the Royal Bank of Scotland. BusinessInsider gives all the details. In a nutshell, the amount they had to pay was for deliberately forcing small and medium-sized enterprises (SMEs) into taking the loan from them. RBS systematically bankrupted the companies and later was buying them off for peanuts. HeraldScotland says they make up a group of almost 500 businesses.
