Fraud and Financial Crime special report: Rogue trading

Risk staff
24 Nov 2011

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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 billion – to a rogue trader on its London delta one desk. In a statement issued shortly after the

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