Risk Management at National Australia Bank
In 2004, the National Bank of Australia announced an AUD$360 million loss that arose from unauthorized foreign exchange deals. A selected few traders from the foreign exchange department kept incurred over a period of time while keeping the losses deceptively concealed (Dellaportas, Cooper, & Braica, 2007). The regulation authorities in Australia are strict and so cases of this magnitude have been rare. The National Bank […]