IT is a rare crime but when it happens it’s certain to hit the headlines.

Leeds Building Society branch manager John Farrer has been jailed for 27 months for stealing more than £120,000 from customer accounts to fund his family’s lavish lifestyle.

The tough jail term was because of that massive breach of trust.

By plundering customers’ accounts he had committed the ultimate crime against those who put their faith and money in the banking system.

The public’s confidence in the whole banking system has already been shattered in recent times and we will all have to pay a terribly high price for its failings for many years to come.

But Farrer’s actions are only those of one man and his crimes were unearthed by his employers even before his victims noticed.

The judge referred to him as “one rotten egg’’ – and people must not lose sight of that.

Although some may wonder how a branch manager at a building society could be earning only around £20,000 when we hear so much about wealthy bankers.