Deutsche Bank Fined £1.7bn over Libor Failings

Phil Beckett, partner at Proven Legal Technologies – the corporate forensic investigation and e-disclosure experts, comments on the latest news that Deutsche bank has been fined £1.7bn over Libor failings:

“This is an example of serious employee malpractice that could have been captured by a more thorough analysis of communications in a proactive context.  Intelligent analysis of company data – such as chat messages– on a regular basis can provide early warnings of issues such as those uncovered in the Libor scandal.

“Until now, audits of company data have primarily been used posthumously as way of finding out “what went wrong”. However, prevention is always better than cure, and the financial services sector needs to get much better at using technology to spot problems before they occur if we are to avoid future crises like Libor.”

By Phil Beckett, Partner at Proven Legal Technologies

Phil Beckett (Proven Legal Technologies - Good Governance Group) (Portra...Bio: Phil Beckett is a Partner at Proven Legal Technologies and joined the team after spending seven years leading Navigant Consulting Inc’s European Forensic Technology practice.Throughout his career Phil has provided advice to lawyers, regulators, corporate entities, not-for-profit organisations and other stakeholders in relation to forensic investigations and e-disclosure projects in both the public and private sectors in the UK and also internationally. He specialises in advising clients concerning the preservation and investigation of digital evidence, the interrogation of complex data sets and the disclosure of electronic documents. He is also a qualified fraud examiner and has been a recognised court expert in relation to various aspects of digital evidence, producing numerous expert reports.

ISBuzz Staff
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