Rigged Benchmark Probes Proliferating From Singapore to London

Rigged Benchmark Probes Proliferating From Singapore to London

Munshi Ahmed/Bloomberg

Last week, the Monetary Authority of Singapore said ING Groep NV, Royal Bank of Scotland and UBS were among 20 banks at which 133 traders tried to manipulate the Singapore interbank offered rate, swap offered rates and currency benchmarks in the city-state, after reviewing the period from 2007 to 2011.