Rogue Trading Scandals Call Risk Controls into Question
The recent rogue trading debacle at UBS has once again thrown the issue of corporate fraud into the spotlight. How was another mid-level trader able to circumvent his firm’s risk controls in such a spectacular manner? By Sitanta Ni Mathghamhna
Like another financial Raskolnikov before him, Kweku Adoboli, the London-based UBS trader who rang up a £1.5 billion ($2.4 billion) loss, had an advantage: He was intimately acquainted with the bank’s back-office operations. As with Jérôme Kerviel, whose
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