NEW YORK: New York state bank regulators fined BNP Paribas $350 million for “illegal, unsafe and unsound” currency trading practices that included use of secret hand signals to dupe customers, officials announced Wednesday.
The charges involved “significant, long-term violations,” including fake trades, manipulating currency prices, using confidential information to profit at the customers’ expense, and misleading customers, New York’s Department of Financial Services said in a statement.
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