Forex Gets Its Collar Felt!

by | Jul 22, 2014

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The Forex market is now getting attention from The Serious Fraud office (SFO).

An in-depth investigation has been launched into the foreign exchange market which trades around £3 trillion a day.

In a very short statement, the SFO declared: “The Director of the Serious Fraud Office has today opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market.”

The SFO joins a long list of international agencies who are looking at whether there is collusion and price manipulation within the market.

A number of the major banks have already suspended traders and a Bank of England employee has also been told to take some leave.

The SFO is working with the FCO and the US Department of Justice.

The investigations are set to run for some time. 

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