By Harriet Dennys The Telegraph, London Sunday, July 20, 2014
http://www.telegraph.co.uk/finance/currency/1...-Fraud-Offic...
The Serious Fraud Office is poised to launch the first criminal investigation into alleged rigging of the L3 trillion-a-day foreign exchange markets at leading City banks.
The financial watchdog is expected to announce the move as early as this week, according to reports, raising the spectre of further multimillion-pound fines for Britain's biggest banks over their behaviour during and after the financial crisis.
Investigators are expected to examine whether individual traders personally benefited by manipulating benchmark forex prices. It is claimed that traders colluded via online chatrooms in groups with names such as the Bandits' Club, the Dream Team, and the Cartel.
