To Catch a Thief: New Strategies, Technologies Combat Fraud
In August of 2010, the US Department of Justice found Barclays Bank guilty of cooking its books for 10 years to cover up transactions involving sanctioned countries, notably Iran. Barclays confessed to the violation and agreed to pay a $298 million fine. Lloyd’s and Credit Suisse had been found guilty of similar crimes in the months prior to the Barclays censure and paid fines of $350 million and $536 million, respectively. They were found to have engaged in “wire stripping,” whereby they
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