More Worries for Swiss Banks

The losses incurred by the UBS’s traders have further added woes to the soaring economy of European countries. Swiss banks have already been struggling to cope up with the intolerable financial crunch and the losses incurred by the UBS’s traders have further put it into a tight position.

It has been informed that risk management practices would be installed by the bank so that losses from the property investment could be avoided. It has come to light that the loss to the UBS was caused by a fraudulent investor, who caused a loss of $2.0 billion by trading illegally.

A man has been arrested at the central London. He is said to be of 31-years-old. Following the news of the loss caused to the Swiss bank, the reputation of it has gradually sloped among the top best banks of the world.

There have been reports that soon Swiss bank will also be making yet another revelation of fraud. Following the news, the shares of the bank fell 7.50% downward as they stood at 10.11 francs. The staff of the banks has been ordered to bring confidence among its customers. It is believed that the bank will need a bailout from the state for its proper working.