Britain’s fraud agency said yesterday that it has launched a criminal probe into allegations of price rigging in foreign exchange markets.
The investigation into “fraudulent conduct” comes after EU, British, and US and other regulators have levied huge fines on some of the world’s biggest banks and investment houses for manipulating financial markets worth trillions of dollars.
“The director of the Serious Fraud Office has today opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market,” it said in a statement, without giving further details.
Reports said the investigation was expected to centre on whether traders personally benefitted from manipulating foreign exchange market benchmarks.
