AIB currency losses bring FX training into spotlight


LONDON -- Allied Irish Banks' announced loss of $691 million, stemming from an alleged currency fraud at subsidiary Allfirst in Baltimore, has highlighted the need for banks to implement sound risk management procedures -- and many banks are putting more emphasis on training FX dealers to minimise risk, market participants told FX Week.

David Hayes, training director at financial markets training firm Chisholm Roth in London, told FX Week: "Recent press reports have highlighted an appreciation of

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