Banks hit worldwide by US 'fraud'
Source:
http://news.bbc.co.uk/2/hi/business/7783236.stm
Some of the world's biggest banks have revealed they are victims of an alleged fraud which has lost $50bn (£33bn). Bernard Madoff has been charged with fraud in what is being described as one of the biggest-ever such cases.
Among the banks which have been hit are Britain's HSBC and RBS, Spain's Santander and France's BNP Paribas. One of the City's best-known fund managers has criticised US financial regulators for failing to detect the alleged fraud.
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