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The failure of Libor – accountability in risk management
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Orientador(es)
Resumo(s)
The Libor Scandal proved how institutions failed to deter
undesirable behaviours and regulators didn’t enforce them to be
compliant when the incentives allowed institutions to be self serving. Through the fraud triangle, it is possible to observe the
conditions that made such a widespread network possible.
Additionally, the three lines of defence model and its expansions
bring a perspective on how to manage these situations even if their
application is flawed in some respects.
Descrição
Palavras-chave
Libor Fraud triangle 3LoD 4LoD 5LoD Financial fraud Risk management Banking Financial conduct Case studies