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On 19 December 2014 the first and only known arrest was made in relation to the scandal. The arrest of a former RBS trader took place in Billericay, Essex, and was conducted by the City of London Police and the Serious Fraud Office. [30] Several traders have been incarcerated for market manipulation in recent years.
In June 2012, multiple criminal settlements by Barclays Bank revealed significant fraud and collusion by member banks connected to the rate submissions, leading to the scandal. [ 5 ] [ 6 ] [ 7 ] Because Libor is used in US derivatives markets , an attempt to manipulate Libor is an attempt to manipulate US derivatives markets, and thus a ...
A number of groups were involved including Platform London, People & Planet, the World Development Movement, Friends of the Earth and Friends of the Earth Scotland. [62] In August 2010 Climate Camp UK held a week-long camp in the parkland around RBS' global headquarters at Gogarburn, Edinburgh. A number of disruptive protests took place during ...
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Tom Hayes (born October 1979 [1]) is a former trader for UBS and Citigroup who was convicted for conspiracy to defraud and sentenced to 14 years in prison (reduced to 11 years on appeal) for conspiring with others to dishonestly manipulate the London Interbank Offered Rate [2] as part of the Libor scandal.
3. Banks are taking a proactive approach to educate consumers on security. When it comes to keeping their customers abreast of the latest ways to bank securely, banks may turn to emails, in-app ...
By mistake, RBS sent Economy Bag a document showing that Jackson was making a 19% markup on every transaction. Feeling cheated, they cancelled the business relationship with Jackson and Davies. Jackson sued RBS for the loss of the opportunity to make further profits.
• Fake email addresses - Malicious actors sometimes send from email addresses made to look like an official email address but in fact is missing a letter(s), misspelled, replaces a letter with a lookalike number (e.g. “O” and “0”), or originates from free email services that would not be used for official communications.