Key controls for "detection of suspicious trading activity" failed at an India outsourcing unit, contributing to $ 2.3-billion loss caused by a rogue trader of global banking giant UBS, a joint probe by British and Swiss regulators has found. This is the third instance when outsourcing of key oversight jobs by global banks (British giants HSBC and Standard Chartered being the other two) to India has come under the regulatory... 
10:51 AM, Nov 27, 2012
