If you have ever come back to your car and found a fine attached to the windscreen or got a letter and a demand through the post for driving in a bus lane you will be familar with the pay in 14 days and get a 50% discount idea.
What is interesting to note is that this discount policy appears to be applicable to even the largest fines. At the bottom of the statement the Financial Services Authority made about its decision to fine Zurich Insurance £2.3m for losing customer data it had a little nugget about the discount procedure.
"As Zurich UK agreed to settle at an early stage of the investigation the firm qualified for a 30 per cent discount. Without this discount the firm would have been fined £3.25 million."
So next time you find that fine waiting and bemoan the games they play with the fortnight to pay or the threat of baliffs just remember the same technique is used whether its £50 or £2m.
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