Serious Fraud Office to investigate Forex fraud claims

The Serious Fraud Office has said it has opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market, the Press Association have reported.

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SFO probes 'rigging' of foreign exchange markets

The Serious Fraud Office (SFO) has launched a criminal inquiry into the alleged rigging of foreign exchange (forex) markets.

The government department, responsible for investigating and prosecuting serious and complex fraud, will consider whether traders benefited from the manipulation of benchmark forex prices.

It comes amid an existing probe by Britain's financial watchdog, The Financial Conduct Authority (FCA), which in October joined other regulators around the world, investigating firms over the potential manipulation of the £3 trillion-a-day forex market - the global market for the trading of currencies.

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