Posted on October 31st, 2008 by fabien buliard
Less than a year after Jérôme Kerviel’s exploits at SocGen made the headlines, it is now another French banking group, Caisse d’Epargne, that is reporting a violation of its internal rules leading to a €751-million loss related to derivatives trading. Traders allegedly exceeded their limits, internal controls have failed, and charges have been pressed. Sound [...]
Filed under: Credit Crunch, Securities & Capital Markets, risk | Comments Off
Posted on October 31st, 2008 by fabien buliard
As many of you probably know by now, French president Nicolas Sarkozy has had money siphoned from his bank account and pressed charges in September, leading to the arrest of three people. Two of them have reportedly used his account number to buy mobile phone contracts. The third suspect is a shop employee, although it [...]
Filed under: Retail Banking, Technology, risk | Comments Off
Posted on October 14th, 2008 by Tom Groenfeldt
The list of local councils and charities and the amounts they had deposited in Iceland is astounding. But it does raise a big question — where were the sales reps from Lloyds, HSBC, Barclays, et. al.
Cheltenham Borough Council: £11 million in Iceland banks … Dorset County Council: £28.1 million … the list goes on and [...]
Filed under: Credit Crunch, Retail Banking, risk | Comments Off
