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****Banks pay out £166bn over six years: a history of banking misdeeds and fines****


rebel11
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The global banking industry racked up more than £166bn in fines, settlement fees and provisions between 2009 and 2013, the CCP Research Foundation has found. Offences range from Libor rigging and currency market manipulation to breaching sanctions against Iran and Sudan, money laundering for Mexican drug barons and abusive mortgage practices in the US.

 

The latest penalties have seen five major banks being fined £2bn for rigging the £3.5tn-a-day foreign exchange markets.

Research led by academic Roger McCormick at the CCP Research Foundation shows 10 large banks, including RBS, Barclays, HSBC and Lloyds Banking Group, incurred £166.63bn in fines and provisions between 2009 and 2013.

 

http://www.theguardian.com/business/2014/nov/12/banks-fined-200bn-six-years-history-banking-penalties-libor-forex

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