Op risk data: Glencore hauled over the coals in $1bn+ bribery probe
Also: Russian banks in fraud fails; Citi’s fat-finger fumble; the devil’s in the data detail. Data by ORX News
Commodities trading giant Glencore was hit by May’s two largest losses, which totalled almost $1.19 billion in separate but related settlements for bribery, corruption and market manipulation that spanned more than a decade, according to regulators. Co-ordinated action among the Department of Justice (DoJ) and the Commodity Futures Trading Commission (CFTC) in the US, as well as UK and Brazilian
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