Diving into the Profits: Seven Banks that Turned the Tables with Libor Rate Manipulation

The Role of Barclays in the Scandal

Barclays, a British multinational banking and financial services company, was one of the first banks to be implicated in the Libor scandal. In 2012, Barclays admitted to manipulating the Libor rate and agreed to pay $450 million in fines to UK and US regulators. This admission sent shockwaves through the financial industry and led to the resignation of Barclays' CEO, Bob Diamond.