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A lawyer's failure to operate a fax machine correctly was blamed for the European Commission losing a multi-million-euro court case.
The European Court of First Instance ruled in favour of five German banks which had been fined a total of €100m by the EC. In 2001 they had been found guilty of running a cartel to fix foreign currency exchange rates ahead of the introduction of the euro.
The incident illustrates how a failure to use technology correctly can have massive consequences, but also underlines the dangers of not moving with the times. Had the EC's documents been emailed, then the EC might be a hundred million euros better off.
The European Court of First Instance ruled in favour of five German banks which had been fined a total of €100m by the EC. In 2001 they had been found guilty of running a cartel to fix foreign currency exchange rates ahead of the introduction of the euro.
The incident illustrates how a failure to use technology correctly can have massive consequences, but also underlines the dangers of not moving with the times. Had the EC's documents been emailed, then the EC might be a hundred million euros better off.
posted by The Infoware Team at 4:14 PM
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