twinkletoes said:The Serious Fraud Office (SFO) has confirmed that it has formally launched a criminal investigation into the rigging of inter-bank lending rates.
It would be nice if the LulzSec boys could perhaps give them a hand and find some really incriminating emails that Bob sent.
Perhaps one of them posts on here. You never know.
twinkletoes said:HSBC is to be fined £645m in the US for failing to combat money laundering.
So apparently all they have to do is pay the fine and say sorry and then it will all be forgotten about.
That's fair enough.
blueinsa said:twinkletoes said:HSBC is to be fined £645m in the US for failing to combat money laundering.
So apparently all they have to do is pay the fine and say sorry and then it will all be forgotten about.
That's fair enough.
A sorry always makes things better.
Lloyds reportedly about to be hit with a total £1.5 Billion fine over the Libor scandal.
Thanks god for the taxpayers is all i can say or they would never be able to afford it!
On a side not, if i let someone use my accounts for the purpose of money laundering, do you think a sorry will suffice?
twinkletoes said:blueinsa said:twinkletoes said:HSBC is to be fined £645m in the US for failing to combat money laundering.
So apparently all they have to do is pay the fine and say sorry and then it will all be forgotten about.
That's fair enough.
A sorry always makes things better.
Lloyds reportedly about to be hit with a total £1.5 Billion fine over the Libor scandal.
Thanks god for the taxpayers is all i can say or they would never be able to afford it!
On a side not, if i let someone use my accounts for the purpose of money laundering, do you think a sorry will suffice?
You have to remember these are "isolated" incidents and the banking fraternity is very reputable on the whole, as we saw from Bob Diamond's testimony earlier this week.
blueinsa said:twinkletoes said:blueinsa said:A sorry always makes things better.
Lloyds reportedly about to be hit with a total £1.5 Billion fine over the Libor scandal.
Thanks god for the taxpayers is all i can say or they would never be able to afford it!
On a side not, if i let someone use my accounts for the purpose of money laundering, do you think a sorry will suffice?
You have to remember these are "isolated" incidents and the banking fraternity is very reputable on the whole, as we saw from Bob Diamond's testimony earlier this week.
I'm just glad that lessons "have" and "will" be learnt so that repeats of incidents like this can "never" happen again.
metalblue said:blueinsa said:twinkletoes said:You have to remember these are "isolated" incidents and the banking fraternity is very reputable on the whole, as we saw from Bob Diamond's testimony earlier this week.
I'm just glad that lessons "have" and "will" be learnt so that repeats of incidents like this can "never" happen again.
God knows where it will end up mate...it's big this one, gone from seemingly a few traders right the way to the senior guys. Perhaps they need to base it off average actual weighted trades for a period of time, it seems obvious that it will have to change in some way.
Whilst few will probably agree with me on this it does show that our regulators do work but appreciate that is of scant consolation.
twinkletoes said:metalblue said:blueinsa said:I'm just glad that lessons "have" and "will" be learnt so that repeats of incidents like this can "never" happen again.
God knows where it will end up mate...it's big this one, gone from seemingly a few traders right the way to the senior guys. Perhaps they need to base it off average actual weighted trades for a period of time, it seems obvious that it will have to change in some way.
Whilst few will probably agree with me on this it does show that our regulators do work but appreciate that is of scant consolation.
I think you mean the US regulators.
metalblue said:twinkletoes said:metalblue said:God knows where it will end up mate...it's big this one, gone from seemingly a few traders right the way to the senior guys. Perhaps they need to base it off average actual weighted trades for a period of time, it seems obvious that it will have to change in some way.
Whilst few will probably agree with me on this it does show that our regulators do work but appreciate that is of scant consolation.
I think you mean the US regulators.
Not especially mate, although we have geographical regulators we are in all reality regulated globally so it's not down to one regulator or another, more a co-ordinated investigation and action.