Britain steps up Libor rate-rigging probe, makes arrests | Bangkok Post: news

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Britain steps up Libor rate-rigging probe, makes arrests

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Britain has stepped up its probe into rigging of the Libor interbank lending rate, making its first arrests in a scandal that has shaken faith in London's role at the heart of the global financial system. 

The skyline of the City of London. Britain has stepped up its probe into rigging of the Libor interbank lending rate, making its first arrests in a scandal that has shaken faith in London's role at the heart of the global financial system.

Britain's Serious Fraud Office (SFO), which is responsible for investigating and prosecuting complex fraud cases, said three people had been held for questioning on Tuesday concerning manipulation of the rate used as a reference in lending across the world.

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