Report Traders Rigged Currency Rates To Profit Off Clients in House prices and the economy Posted June 13, 2013 If I hire you to sell my car for me and you sell it to a friend for less than it's worth and pocket the difference then you've committed fraud. There may be no bank rules to break, but if traders operated against their customer best interests then it would certainly be fraud and they would be liable for any losses. This is one of those scandals that has a chance of spinning out of control. If a test case goes through and the banks lose they could face possibly paying out compensation for every currency transaction in the last decade. Yes, there are balnket laws to cover almost everything. Earlier law in particualr was written well, easy to understand and clear to carry out. The only thing missing is a willingness to use the law against fraudsters. Too many have had a free pass in gaming the market and the economy and still do.