Five global banks face class action over exchange rate collusion

Five global investment banks are facing a potential class action after being accused of rigging foreign exchange rates to boost their own profits. 

According to a statement of claim filed this morning, the cartel activity involved the alleged use of secret chatrooms where traders colluded to manipulate rates at the expense of businesses and consumers. 

I speak with Maurice Blackburn principal lawyer Kimi Nishimura

From Maurice Blackburn statement of claim