You are here

Australia cracks down on rate riggers

It makes manipulation of financial benchmarks a criminal offence, with penalties including jail time
Wednesday, October 5, 2016 - 05:50

Sydney

MANIPULATING financial benchmarks will become a criminal offence in Australia, the government announced on Tuesday, as the nation's largest lender defended its huge profits in a grilling by lawmakers over its practices.

Treasurer Scott Morrison said that the tough new rules