Deutsche Bank suspends five traders over Euribor manipulation

Feb 07 2013, 00:34 IST
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SummaryDeutsche Bank has suspended five traders suspected of inappropriate conduct following an internal probe into possible manipulation of the Europe Interbank Offered Rate, a person familiar with the matter said on Wednesday.

Deutsche Bank has suspended five traders suspected of inappropriate conduct following an internal probe into possible manipulation of the Europe Interbank Offered Rate (Euribor), a person familiar with the matter said on Wednesday. Germany’s flagship lender launched an internal investigation after regulators drew attention to potential involvement of Deutsche Bank staff in a global scam to manipulate benchmark interbank lending rates. The traders, who worked on Deutsche Bank’s money market team in Frankfurt, were suspended on Tuesday, the source said. Deutsche Bank, which suspended two traders last year for involvement in the manipulation of Libor, would not say how many traders were suspended. It added that no current or former board members have been implicated.


Microsoft & Symantec disrupt cyber ring

Microsoft and Symantec said they disrupted a global cyber crime operation, known as the Bamital botnet, by shutting down servers that controlled hundreds of thousands of PCs without the knowledge of their users. Technicians working on behalf of both companies raided data centres in New Jersey and Virginia on Wednesday, accompanied by US federal marshals, under an order issued by a court in Alexandria, Virginia.

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