As regulators around the globe continue to pursue widespread allegations of foreign exchange benchmark rigging, LIBOR and Euribor manipulation and commodities price-fixing, reports say banks are turning to high-tech innovations to help curb the market abuse.
A major trend emerging within the world’s largest banks in the wake of the scandals is the adoption of voice forensic technology, according to reports. The tactic can aid regulatory probes as watchdogs are depending more on electronic information to gather evidence of market abuse, including emails, instant messages and phone calls.
According to Fonetic USA CEO Simon Richards, the company has seen a spike in demand for voice analysis software and services by banks and other members of the financial services sector. According to the executive, the software flags certain phrases that could be considered triggers for evidence of market manipulation.
Authorities around the globe have issued billions of dollars in fines to several of the world’s largest banks for market-rigging behavior. Investigations are ongoing regarding foreign exchange market manipulation, and the fixing of aluminum and other metals prices.
Full content: International Business Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI