’If you ain’t cheating, you ain’t trying’: The world of the lurking forex trader

Traders at banks around the world lurked in private chat rooms, working to rig the forex market and cheat clients and others out of cash, hoping a veil of secrecy and threats would keep their misbehaviour hidden from sight.

But now – not for the first time – their rule-breaking has been exposed by regulators, as six banks were fined a combined US$5.6-billion, and records of the traders’ collusion made public.

Many instances of financial crime since the crisis have been revealed via chat room transcripts, which have laid bare the widespread, manipulative activities.


No one has gone to jail for this.

  • Norman_In_New_York

    If the business is big enough, nobody goes to jail. Same with pharmaceutical executives whose companies have been fined billions for defective and/or toxic products. Too big to fail, too big to jail.

  • Drunk_by_Noon

    You could make a good living as a trader by just spying on these people.

  • Ottawa Eyes

    All Forex traders, even those who do it from home and not for major institutions, are psychopathic scum who think they can manipulate the world.