Barclays is facing explosive allegations it engineered its computer systems to rig financial markets.
The bank was fined £1.5bn last week after rogue traders were caught manipulating foreign currency rates.
But this bill could spiral amid fears raised by US regulators that the abuse was systemic rather than the result of a few corrupt staff.
Barclays is among a host of global lenders being investigated by the New York banking regulator for tweaking computer programmes on its foreign exchange trading platform to rig markets.
The probe into Barclays and Germany’s Deutsche Bank has been going on since last year, with monitors installed by the New York Department of Financial Services (NYDFS) to gather evidence.
But the investigation has gathered momentum, and now includes a collection of the world’s biggest banks including Goldman Sachs, BNP Paribas, Credit Suisse, and Societe Generale. Full story...
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The bank was fined £1.5bn last week after rogue traders were caught manipulating foreign currency rates.
But this bill could spiral amid fears raised by US regulators that the abuse was systemic rather than the result of a few corrupt staff.
Barclays is among a host of global lenders being investigated by the New York banking regulator for tweaking computer programmes on its foreign exchange trading platform to rig markets.
The probe into Barclays and Germany’s Deutsche Bank has been going on since last year, with monitors installed by the New York Department of Financial Services (NYDFS) to gather evidence.
But the investigation has gathered momentum, and now includes a collection of the world’s biggest banks including Goldman Sachs, BNP Paribas, Credit Suisse, and Societe Generale. Full story...
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