ACE bank-hoax video online now

Masterminds behind unethical bank revealed.

October 2006. A mysterious bank suddenly appears on the Belgian market.
The bank is proud to invest in the arms industry, oil- and gas,
nuclear power, agrochemicals and companies violating their workers'
rights. ACE* bank immediately provokes reactions.

After weeks of outrage, enthousiasm and speculations, the belgian ngo
Netwerk Vlaanderen reveals to be the mastermind behind this fake
bank. The action turns out to be part of the campaign My Money. Clear
Conscience?, which protests against controversial investments by
commercial banks.

This is the amazing ACE* bank story. You can enjoy the video at
www.ace-bank.eu (english)

The Launch

In october 2006, a mysterious bank introduces itself on the Belgian
market. The bank claims to be the initiative of a major financial
group which doesn't want to reveal its identity yet. ACE* bank is a
bank with a clear policy: maximum profit, no scruples. Sick of the
growing pressure for 'politically correct' investments and
sustainability, this young shark fully goes for controversial
investments. ACE* bank specialises in investments in the arms
industry, oil- and gas, nuclear power, agrochemicals and companies
violating their workers' rights. ACE* bank believes firmly in this
policy but wants to test the waters: is the customer ready for this
straightforward no-nonsense approach? Brussels is chosen as a
starting point for a European market research. The first promotion
office opens on the 11th of october. A motivated team of salesmen
and -women call in passers-by for an interview about their opinion on
the ACE* investment portfolios. Some people are shocked by the
details they receive about the investments by ACE*, others like its
honesty. The mediastrategy

Everyone is curious about ACE* bank. The major Belgian newspapers
report about the launch of this remarkable newcomer on the market.
ACE* bank goes for an agressive media approach. Two days after the
opening of the Brussels office, the bank sends out a new press
release, boasting 'ACE* bank is the Ryan Air of the Financial World'.
The bank promises higher interest rates then any other bank, thanks
to its low salaries and its choice for interesting projects like
Sakhalin, the Russian oil- and gas exploration by Shell. ACE* bank
criticises any bank that gives in to pressure from political groups
and promises the clients not to miss great investment opportunities
like this. Again, the press reacts amased and with curiosity. This is
a daring approach, a new wind in the financial world.

The outrage

In the meantime, speculations about who is behind this controversial
new bank are rising. Journalists start guessing and start pushing the
ACE* bank spokesperson for details. He refuses to name the financial
backers, but announces to publish their names shortly. At that point,
the rumour about the new bank has reached the Commission of Banks and
Insurances (CBFA), the commission that controls all the activities by
financial institutions on the belgian market. A CBFA deputy director
has been alarmed about ACE* bank, which seems to operate without the
necessary licences. He rushes to the trendy ACE* promotion office and
bumps into the spokesperson of the bank, who tells him to come back
during office hours. After a brief and heated discussion, the CBFA
deputy director storms down to the nearest police office to file a
complaint. That same evening, CBFA decides to send out press releases
about the illegal activities of ACE* bank, warning the world against
this obscure new company.

The suspense

ACE* bank decides it's time to react. The bank anounces a press
conference a couple of days later, promising to reveal its
marketstrategy and financial backers. The press goes mad. Journalists
don't know what to think about this. Is ACE* real? Is it a commercial
stunt by another bank? Is this bank trying to convince people about
the opposite of what it promotes? Is there an ngo behind it? The ACE*
bank spokespersons telephone starts ringing of the hook. But ACE*
bank doesn't put its cards on the table yet. The press has to wait
until the press conference. Some journalists decide not to wait. They
start to investigate all possible options. Maybe ACE* bank doesn't
really exist. What if it's a campaign? The main suspects, Oxfam,
Greenpeace, Netwerk Vlaanderen, etc are questioned about their
involvement. Nobody knows anything. Newspapers phone the major
communications- and PR bureaus, other banks, advertising specialists
etc. Nobody knows anything. But the holes in the net are tightening.
One journalist discovers that the ACE* bank office is rented by the
City of Brussels. He even manages to get hold of the contracts. He
discovers that Netwerk Vlaanderen and the City plan an exhibition
about 'sustainable investments', later that month. The same
journalist phones Netwerk Vlaanderen undercover, claiming he wants to
volunteer for this event. Netwerk tells him the project has been
cancelled due to lack of resources. This doesn't stop the newspapers
from publishing articles which hesitatingly point at Netwerk
Vlaanderen as the main suspect. Not surprisingly, as Netwerk
Vlaanderen is known for its direct and confrontational actions about
banks. But nobody is absolutely sure, so the pressconference is packed.

The repression

The Commission of Banks and Insurances finds out about the press
conference and decides to take action. Whoever is behind this bank,
they have to be stopped! 20 minutes before the press conference
starts, a group of plain clothed police officers arrives at the bank,
with a clear order to arrest all ACE* bank employees. Some of them
have a nose for this kind of danger and manage to escape. They call
for reinforcements. A diplomat is sent in to negotiate. After his
decisive briefing, the officers start laughing and decide to go and
have a beer in the nearest pub.The press conference can go ahead as
planned. ACE* bank grabs the opportunity to explain to the
journalists that it does not differ fundamentally from other banks.
The companies in its investment funds also occur in those of
financial groups like AXA, ING, Fortis, KBC and Dexia. Why wouldn't
ACE bank be allowed to do the same?

The reveal

The spokespersons assistant starts reading out all the messages of
support the bank has received by its potential customers, ending with
some more obscure messages from people who feel the urge to throw in
the windows and come and puke on the ACE* bank carpet (sic). Do the
ladies and gentlemen of the press have any more questions? Silence,
discomfort and confusion. "In that case, we only want to add one
element to your dossier and introduce you to the mastermind behind
ACE bank." Finally, the moment of truth! As if from nowhere, two
representatives of Netwerk Vlaanderen enter the building.

* ACE bank is not a bank. This is not a hoax. Any resemblance with an
existing financial group is purely coincidential. And any other
possible dislaimer which keeps banks and their lawyers of our backs.
Thank you.