Fraud and Financial Crime special report: Rogue trading
Operational Risk & Regulation explores some of the issues raised by the UBS rogue-trading scandal – from IT deployments to risk controls and systems access – and canvasses industry players on what steps should be taken to prevent it happening again
The latest multi-billion loss to a rogue trader has turned attention to safeguards against unauthorised trades, but even cutting edge technology is not a perfect solution – much of the time cultural and organisational changes can be more effective.
UBS startled the financial markets when it admitted in September this year it had lost at least $2 billion – an estimate later increased to $2.3
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