Losses and lawsuits
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
Royal Bank of Scotland (Greenwich NatWest)
In an unusual case that tests how far the US's prosecutorial reach extends in this post-September 11 world, a British judge ruled on October 15 that three London-based bankers could be extradited to the US state of Texas to face wire fraud charges related to their past relationship with Enron. The decision was based on new British extradition laws designed as a response to the threat of global terrorism. What complicates this case is that the alleged
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