Another Rogue Trader Strikes

The news is making it’s way around today about the latest rogue trader, this time to hit UBS, which has cost the Swiss bank approximately US$2bn (£1.3bn). Just another reminder that the importance of risk management  is something that an organisation can never be complacent about.

Even with banks putting more focus on risk management and compliance, the risk of fraud and traders losing money on trades and trying to hide the losses will still be problem that rears its ugly head again in the future. This just means implementing better (and more?) internal controls are needed.

The BBC also has an interesting article that helps explain in simple terms how rogue traders make such losses.

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