A PYMNTS Company

Germany: Deutsche Bank suspends forex traders

 |  January 15, 2014

As the world’s largest foreign exchange dealer, Deutsche Bank has been targeted by competition authorities around the globe following allegations of manipulation of forex rate rigging. Now, sources say the bank has suspended several of its forex traders for their alleged role in the scheme, say reports.

As Deutsche Bank continues its own investigation into the matter, executives are looking into electronic messages between various employees and will suspend or reinstate individuals based on the evidence.

Germany’s largest bank is just one of several major lenders who have been involved in investigations over alleged forex manipulation. Citigroup, Barclays and UBS have all been involved with the probes, and, according to reports, have all taken action against individual employees for their alleged involvement.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.