AIB currency losses bring forex training into spotlight

Many banks are putting more emphasis on training foreign exchange dealers to minimise risk following Allied Irish Banks' loss of $691 million, stemming from an alleged currency fraud at subsidiary Allfirst in Baltimore.

David Hayes, training director at financial markets training firm Chisholm Roth in London, told RiskNews’ sister publication FXWeek: "Recent press reports have highlighted an appreciation of risk, and measures to identify, quantify and limit exposures - training plays an increasingly important role in this area, which is often overlooked."

But, said Denis Nolan, director of training consultancy Arbitrain in London and author of ACI - The Financial Markets Association's Model Code, a code of

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