World Show more World. US Show more US. Companies Show more Companies. Markets Show more Markets. Opinion Show more Opinion. Personal Finance Show more Personal Finance. New Lies to Cover Old Untruths «If operations, risk control and finance and other control functions act in isolation and do not talk to each other, then an rogue trader will get away with lying for much longer,» he said. Criticism of Profit Culture «As long as there are significant losses or profits on the books, most likely because of big bets, he has to continue cooking the books.
Is Big Data the Savior? Are rogue traders a fact of life? Yes and no, Gamma says. Credit Suisse to Suffer Tougher U. How Cryptos Bait Clients. Huobi Pulls Plug on Services in Singapore. Appoints Regional Representative. In some ways, they look like any other ambitious junior trader who is keen to make a mark, yet they possess character traits and skills that turn them into severe threats to the banks that employ them. First, they are or they feel themselves to be outsiders Rogue traders fight fiercely to make their mark because they cannot rely on their status being taken for granted Third, rogue traders are clever.
With hindsight, it often seems extraordinary that anyone believed them, particularly at sophisticated complex institutions filled with well-educated, assertive people. Yet they devise intricate ways of hiding what they are doing with false accounting and fictitious trades, and weave convoluted cover stories about how they are supposedly making money.
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