$300.00T Involved

LIBOR Rate Manipulation Scandal

🇬🇧 United Kingdom market manipulation Settled
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Date Discovered

June 27, 2012

Organization

Barclays, UBS, Deutsche Bank, RBS, Rabobank, and others

Perpetrators

Traders at multiple global banks

Legal Outcome

Over $9 billion in fines paid by banks. Several traders imprisoned.

Economic Impact

$300 trillion in financial contracts affected. Undermined trust in financial benchmarks.

Regulatory Changes

LIBOR transitioned to alternative reference rates (SOFR, SONIA). Enhanced benchmark regulation.