Daiwa Bank 'Proves Need For Real-Time Risk Systems
As the dust begins to settle on Daiwa Bank's revelations of losses through fraudulent bond trading, industry experts contacted by RMO say the case highlights a pressing need for banks and securities houses to implement real-time risk management systems and tighten up operational controls.
Toshihide Iguchi, an executive vice president at Daiwa Bank's New York branch, admitted two weeks ago to having lost $1.1 billion over an 11-year period through fraudulent trading in the U.S. government
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