In US, New York Department of Financial Services (DFS) has fined Standard Chartered Bank US$40 mn for rigging transactions in foreign exchange markets between 2007 and 2013.

The investigation found that bank traders used a range of illegal tactics to maximize profits or minimize losses at expense of bank’s customers or customers at other banks.

Standard Chartered has admitted that it failed to implement effective controls over its forex business, which is conducted at its London headquarters and in other global financial centers, including at its New York branch.

For more: https://www.bankingtech.com/2019/01/new-york-regulator-fines-standard-chartered-40m-for-forex-rigging/