Beware of robber banks (RB), bad advisors.
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'I Owe It All to You': Ex-Trader Decodes FX 'Cartel' Tactics
Even after a group of British currency traders known as "The Cartel" began to sense their online chats were being watched, they didn’t stop illegally conspiring to rig the markets by using code words, one of them told a Manhattan federal jury. Matt Gardiner, a former currency trader at Barclays Plc and UBS Group AG, deciphered for jurors chatroom transcripts and recorded phone calls, including messages from 2012 and 2013 when the London banking world was consumed in a scandal over interest-rate benchmarks. "for compliance purposeno collusion going on here hahahaha" That’s what former JPMorgan Chase & Co. trader ... (full story)
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