Swiss banking giant UBS announced its quarterly net profit decline by 39% and revenue slide by 4%. UBS lost 1.8 billion Swiss francs ($2 billion) due to “unauthorized trading incident” UBS had discovered the unauthorized Delta One trades last month in its Global Synthetic Equity business and alerted London police. The trader, Kweku Adoboli, was arrested and later charged on suspicion of fraud and abuse of his position. Analysts say banks are getting better at addressing risk management than in other industries.”]
Source: https://www.darkreading.com/attacks-breaches/ubs-finds-risk-management-stress-test-costly