crime

Royal Bank of Scotland fined $612 mil for rate rigging; Japan unit pleads guilty to wire fraud

17 Comments

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17 Comments
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Meanwhile the JFSA fines a few million yen with a wrist slap for dodgy institutions here. I like how the West spanks.

-2 ( +2 / -4 )

A major slap by anyone's standard.

5 ( +5 / -0 )

what about bank of japan ,what is he doing know a days, ( feel no gilt to brake routs if any in this financial system.

-5 ( +0 / -5 )

The rich get richer and the poor get the picture, well some of them based on comments no one understands or cares.

-1 ( +1 / -2 )

RBS will cut 300 million pounds from its bonus pool to pay for it, but the bonus culture will carry on. They'll just be encouraged to find new ways to manipulate the system...

0 ( +1 / -1 )

Bankers are still well paid but it will be going down year by year.

0 ( +1 / -1 )

I'd like to hear of just one bank that DOESN'T deal in underhanded or illegal practices. This only made the news because they got extra greedy and got caught.

-2 ( +0 / -2 )

A unit of the bank in Japan also pleaded guilty in the United States to one count of criminal wire fraud. The parent company avoided criminal liability in the United States, meaning it can retain its banking license there and avoid a fire sale of its U.S. business Citizens.

Any particular reason the name of the Japanese bank in question was not published?

-3 ( +0 / -3 )

My mistake.......it has a branch office here in Japan, not a Japanese bank. Mea Culpa.

0 ( +1 / -1 )

RBS has got to be one of the worlds worse managed banks but still I think Western regulators are extorting money from banks as if there is no tomorrow. Kind of like communist china when it took over, they publictised bank buildings into state property.

-3 ( +0 / -3 )

Gee financial deuche bags manipulating things...........what the, I thought thats what they all do 365days a year!

Oh & these filthy dirty dealing swindlers are the first to spout how they have "EARNED IT" nothing could be further from the truth, financial system is rotten to the core world wide & has been for ages, they are of very little use in reality

0 ( +1 / -1 )

@zichiFeb. 07, 2013 - 07:39AM JST

I wonder how the fine stacks up against all the money that was made by manipulating the rates. It may have turned out to be a profitable devour. Just the cost of doing business.

1 ( +2 / -1 )

Droll Quarry

Yes, I agree with your comment but it was a big fine for this bank and their PR image was also badly damaged, so in the end it'll cost more than just the fine.

5 ( +5 / -0 )

Yubaru. They mean the securities subsidiary of RBS here in Japan.

0 ( +0 / -0 )

These banks always get off with a fine. I wish they'd drag some of these corporate criminals out into the street and give them public beatings.

0 ( +1 / -1 )

Its a funny legal system the West has, the poor go to jail when the rich get off with a fine.

-3 ( +0 / -3 )

@Tiger LOL in Japan the rich get off with a fine!? um such a pathetic amount that it may as well be a slap on the wrist,

0 ( +0 / -0 )

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