Ludwig warns banks on vigilance

The man who investigated the rogue trading scandal at AIB’s US subsidiary Allfirst said, on the fifth anniversary of the affair, that banks still needed to be vigilant and maintain controls to stop it happening again.

3rd February, 2007

The man who investigated the rogue trading scandal at AIB’s US subsidiary Allfirst said, on the fifth anniversary of the affair, that banks still needed to be vigilant and maintain controls to stop it happening again.

Eugene Ludwig, chief executive of Promontory Financial Group, based in Washington DC, was hired to investigate what went wrong at Allfirst after AIB discovered on February 4, 2002 that a proprietary trader, John Rusnak, had lost $691...

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