Banks chase trading cheats with ‘fuzzy’ surveillance

Please Like Us!!!
Scaffolding is seen outside the NASDAQ MarketSite in Times Square in New York

By Vidya Ranganathan SINGAPORE (Reuters) – Stung by billion-dollar fines for malpractice on their trading floors, the world’s big banks are using ‘fuzzy logic’ tools such as relationship mapping and behavioural analytics to read the minds of would-be cheats among their traders. On Wednesday six global banks agreed to pay $4.3 billion to settle claims they failed to stop traders from trying to rig foreign exchange markets, which came hot on the heels of similar fines for manipulating benchmark interest rates. …


Reviews & Comments