Financial Scandals

A Guide with Links to Information Sources

Classic Financial and Corporate Scandals
BCCI, Barings, Daiwa, Enron, Sumitomo, Credit Lyonnais, Bre-X, Lloyds, NASDAQ, Savings and Loan, WorldCom, Parmalat etc.
Scandals involving Central Banks  
Criminal or scandalous activity involving the pillars of the international financial system.
Political Corruption
Corruption in governments and official organisations in Great Britain, Europe, the United States, Japan and other countries.
Organized Crime: the Mafia etc.
The Cosa Nostra or Mafia, the Yakuza and other major criminal organisations and their role in financial scandals.
Money Laundering
How it is done and what is being done about it.
Bankers Behaving Badly
Cases of sexual harassment, racism, embarrassing e-mails, and outrageous extravagance.
Official Regulatory and Anti-Fraud Organisations
Links to the web sites of official organisations combating fraud.
Other Organisations Fighting Financial Crime
Professional Bodies, Investigative Services and Forensic Accounting.
Finding More Information about Business Scandals
Links to other sources of information.
Derivatives, non-existent gold reserves and impenetrable accounts, have been the stuff of frauds on an almost incomprehensible scale. The activities of Nick Leeson, Toshihide Iguchi, Yasuo Hamanaka, John Rusnak, Jerome Kerviel and the bosses of Enron and Parmalat have made the bank robbing activities of Jesse James and the outlaws of the old Wild West seem like pathetic, kindergarten stuff in comparison. This is a guide with lots of links to information on these and other lesser-known financial scandals. While most of the cases in these pages involve real or suspected criminal activity a few are included simply because the scale of the incompetence or greed makes them scandalous.

Financial Scandals in Fiction

Is truth always stranger than fiction or can fiction forewarn us of dangers lying in wait? Information about the works of Linda Davies, former investment banker and now a novelist. Most of her novels are now also available as ebooks. new!

Essays on Particular Kinds of Scandals

Dangerous Diamonds  
An article on the history of the diamond industry and its role in wars, including civil wars, terrorism, and other, less threatening controversies.
Gambling on Derivatives: Hedging Risk or Courting Disaster?
A review of some of the reasons why there have been many cases of enormous losses associated with the use of financial derivatives.
The Psychology of Risk, Speculation and Fraud
What are the motivations that turn some people into lawful speculators and others into financial criminals? The text of a speech given at a conference on European Monetary Union.
The Rise and Fall of Alberto Fujimori
How the man who saved Peru from terrorism and hyperinflation became an exile in Japan, forced to flee after his right-hand man was implicated in bribery, arms trafficking, moneylaundering, and human rights abuses.

The largest section, Classic Financial and Corporate Scandals, in the collection of links above, includes the best known cases of recent years, e.g. Parmalat, Enron, Barings Bank, BCCI, BRE-X, etc. and some other very large ones that have received less publicity. In addition there are sections on related topics such as political corruption, money laundering, organised crime, official regulatory and anti-fraud organisations, other bodies fighting fraud, and financial scandals in fiction. That section is about the work of my sister, the novelist and former banker Linda Davies. Among the links from that page is one to a set of pages on the financial crime genre in general.


The Financial Scandals site contains links to sources of information on various frauds, scams, swindles or corporate scandals in banking, finance and related areas, and on corruption involving governments and business. It is maintained by Roy Davies. I make no judgements as to the reliability of the information. Presumably that from official bodies should be more reliable and authoritative than information from satirical magazines or individuals with an axe to grind - but then again it could be argued that official bodies have a vested interest in playing down their own shortcomings! Readers will have to make up their own minds about these issues.

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Last updated 2 May 2015.


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