Jail Time Demanded For Bad Banks by Matthew Allen, swissinfo.ch
The latest scandal to hit the banking world has led to renewed calls for the authorities to finally clamp down on malpractice by jailing traders. But will the foreign exchange fraud, the latest in a long list of malpractices, force banks to change their ways?
“In most businesses, the normal penalties for defrauding a customer include the risk of a jail sentence,” read a recent Financial Times editorial. “If the authorities really want to change the culture of the trading desk, criminal sanctions must become a more vivid possibility.”
Switzerland’s public prosecutor appears to have opened the door to this possibility by starting criminal probes into several people...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
