How to establish a robust evidential trail and deliver fair value for assets under advice customers
18/04/24
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Lessons from Barings Bank: have we emerged from cultural decline?
With the Barings Bank case in Singapore 25 years ago, culture was thrown into the limelight - but has anything really changed?
After a frenetic weekend of phone calls and rushed planning meetings, as Monday dawned in Raffles Place in Singapore a team of investigators entered the office of Barings Futures. Desk draws were forced open, evidence identified, logged and packed up. It was 1995 and - as a result of years of fraudulent reporting and surreal trails of funding to Singapore - Barings Bank, the world’s second oldest merchant bank had dramatically collapsed amid chaos and scandal...
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