Central Bank determined to sniff out fraud after Custom House failure

Investment managers suspected of fraud or misuse of client assets will be subjected to tough new forensic analysis by the Central Bank, according to its deputy governor and head of financial regulat

4th December, 2011

Investment managers suspected of fraud or misuse of client assets will be subjected to tough new forensic analysis by the Central Bank, according to its deputy governor and head of financial regulation, Matthew Elderfield.

The new regime, which will be introduced in the new year, is expected to be an outcome of the Central Bank's review of client asset supervision in the wake of systematic misappropriation of at least €66 million in customer money at...

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