Rusnak lessons still unheeded


NEW YORK -- Global banks are yet to implement key recommendations to limit rogue trading losses, one year on from John Rusnak’s record $700 million forex fraud. Major issues raised in the wake of the disastrous affair at Allied Irish Banks’ subsidiary Allfirst Financial in February 2002 remain under discussion, said leading bankers and advisory bodies, but few concrete steps have been taken to formalise guidelines or accepted procedures.

Red flagging

Key among the proposals made in AIB’s March

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: