Saturday, February 02, 2008

$7B fraud using Excel !

Assuming all of this, there are several classical ways he could have hidden what he was up to armed only with VBA, Walkenbach (http://books.global-investor.com/books/23480.htm?ginPtrCode=10202) and the right passwords. Marking trades as having been done by someone else is the most obvious, yet not entirely trivial to stop. A critical requirement of trading systems is to allow others to handle your position when you are off sick or on holiday, creating a set of vulnerabilities. My information is that he may have exploited this, and avoided being away from the office in a way quite atypical for French workers (http://www.thedailymash.co.uk/news/business/french-trader-was-forced-to-work-30-hours-a-week-20080125680/) to avoid being caught.

Comments: Post a Comment



<< Home

This page is powered by Blogger. Isn't yours?