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

EDITORIAL USE ONLY Glencore 458104601
Double trouble for Glencore at the top of May’s loss table

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 regulators, resulted in the Swiss firm making a $700.7 million settlement against findings of bribery

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