In 1995, Barings Bank, the oldest bank in Great Britain, was unable to meet its funding requirements and was declared bankrupt. Nick Leeson was convicted of fraud and sentenced to six years in Singapore. Leeson had fled the country and then found and arrested in Frankfurt, Germany, resulting in bankruptcy. The stories, often told and retold, are virtually the same in virtually all of the stories about this subject. These headlines point to the financial impact on companies, but also have consequences beyond their earningsfrom personal to the greater community.”]
Source: https://www.csoonline.com/article/2124383/no-excuses–managing-operational-risk.html