Top 10 op risks: index rigging
The first in our series of top 10 op risks for 2014 looks at index rigging. The Libor-rigging scandal continues to grow, and other indexes may have been involved too
In direct financial impact, the Libor-rigging scandal looks set to be second only to the cost of payment protection insurance mis-selling in the UK – and could yet manage to make it to first place in 2014. Already, four major banks – UBS, Barclays, Royal Bank of Scotland and Rabobank – have been fined billions of dollars by regulators for their part in rigging the widely used financial benchmark
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