Johnathan Paoli
THE EFF has added its voice to the growing outrage on the UK-based Standard Chartered Bank’s confession to the illegal manipulation of currency trading within the country.
The EFF said on Thursday that they noted both the admission of guilt as well as the attempts by certain parties to downplay the conduct of the banks and that the country should remain vigilant in finding justice over the betrayal.
Standard Chartered Bank (SCB) previously admitted to engaging in the manipulation of the rand alongside 17 other banks accused of engaging in unethical conduct.
The bank joins the list of other commercial banks that admitted to wrongdoing. SCB agreed to pay a penalty of R42 million to the Competition Commission for its role in conspiring to rig trades involving the US dollar-rand currency pair.
The EFF called for the immediate criminal prosecution of those individuals and parties involved and for
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