Tag Archives: LIBOR

JP Morgan (Trading Losses), Barclays (LIBOR fixing) and now HSBC (Money-Laundering) — Better Enforcement Needed — You Think?

What is the recent story with multinational banks? First, JP Morgan (unsupervised trading losses). Next, Barclays (LIBOR fixing). And now  HSBC (money-laundering). HSBC faces about $1 billion in fines for violating U.S. anti-money laundering controls intended to restrict financing of terrorism and other criminal activities. … Continue reading

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Global Banking and Gaming LIBOR – Joint Cross-Border Enforcement, Finally.

Joint cross-border investigations by the U.S. (Commodity Futures Trading Commission , the U.S. Dept. of Justice) and the U.K. (Serious Fraud Office) have resulted in an agreement by Barclays PLC to pay $453 million in fines for illegally manipulating the inter-bank rate, LIBOR. These agreements … Continue reading

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