5 of the biggest banks in the world have pleaded guilty in
the charges that have manipulated the foreign exchange market.
This means that they will have to pay a total fine of $ 5.7 bn according to US
authorities.
The five
banks that were involved in the fraud are JP Morgan, Citigroup, Barclays, RBS
and UBS.
Barclays is
the one that will have to bear the biggest part of the sum - $ 2.4 bn after in
November it did not join the other banks for clarifying the regulations.
Loretta
Lynch, newly appointed Minister of Justice in the US, said that since 2007
almost every day traders secretly manipulate exchange rates of exchange.
According to her, a huge number of customers, investors and institutions
affected by these actions.
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