According to former Team Leader of Barclay’s Financial Reconciliations department Chris Boyle, Barclays’ taxation on interest regarding PPI claims may not be accurate because other departments deliberately erred the numbers with too many exceptions. Boyle told senior officials about the problem through a letter upon his resignation, which had Barclays launch an investigation regarding the possible problem.
According to Chris Boyle, the different departments of Barclays were impartial to their employees. As a contractor working in financial reconciliations, he and his team had to process several items that was beyond their capability, which may lead to error.
PPI is the UK’s biggest financial scandal. Millions of people are trying to claim PPI compensation from their banks. Barclays currently has the highest number of complaints in general insurance including PPI. The numbers that Boyle and his team had to handle, with deliberate errors in calculations, he took as a sign of “bullying.”
In an official statement, Barclays said that the company does not tolerate bullying, and that the entire issue may have been resolved if Boyle came forward as soon as he could. He only told about the issue as he was about to resign. However, they are taking the matter very seriously and are trying to fix the taxation problems with consumer PPI recompense.