Fined international banks manipulated in the foreign exchange market

Fined regulatory bodies around the world five major banks, including "UBS" and "HSBC" and "Citigroup" $ 3.4 billion for failing to prevent its customers from trying to manipulate the foreign exchange market.

a "Royal Bank of Scotland" and "JP Morgan" also faces

sanctions in an investigation that lasted over a year and resulted in a tightening of regulations in the market, amounting to $ 5 trillion a day after it was not subject to little regulation.

It was decided to separate the dozens of dealers or stop them from work they share confidential information about customer orders and their coordination of transactions to make money from the standard index of the foreign exchange rate used by asset managers and officials of the Treasury in the companies to evaluate their holdings, the latest scandal caused to the financial sector.

They used code names to identify the customer, without giving their names and set up chat rooms online is real names such as "players" and "The Three Musketeers" and "1 1 dream team" for the exchange of information, and how did not participate were prone to disregard.

And bearing bank "UBS" Swiss largest fine, as pay $ 661 million to the British Financial Services Authority and the US Commission on trading commodity contracts.