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Industry observers say massive fines via the Libor scandal, like the $2.5 billion levied against Deutsche Bank, will empower compliance departments.
Despite revealing massive fraud at one of the world’s largest financial institutions, Deutsche Bank’s recent $2.5 billion settlement with regulations could have a silver lining, industry observers say. Deutsche Bank’s fine came at the end of a seven-year probe into manipulation of the London Interbank Offered Rate (Libor) by its traders and exposed widespread fraud...
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