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Tuesday, October 30, 2012

Global banking scandals

1)Barclays has admitted it attempted to manipulate the London Interbank Offered Rate, or Libor - the interest rate at which banks lend money to each other.
2)Standard Chartered, was fined by a New York regulator for illegally hiding transactions with Iran, allowing the country to sell its oil for dollars.The New York state Department of Financial Services (DFS) said the bank laundered $250bn over nearly a decade, breaking US sanctions.

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