In August, 2008 the CFTC set up a special task force to deal with growing foreign exchange fraud.

International An official of Volkswagen has agreed to talk to prosecutors about allegations of foreign exchange fraud that cost the West German auto maker $259 million.

"It is the biggest exchange fraud in Brazil's history," said the minister, Saulo Ramos, adding that the scheme was probably engineered by money launderers linked to drug traffickers.

The United States Department of Justice charges 47 people, including former employees of JP Morgan and UBS, with offenses related to foreign exchange fraud.

Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market.

Hahn also cleaned up VW's business practices, uncovering an inside foreign exchange fraud, but its $300 million cost to Volkswagen ate into the very profits Hahn had helped the company make.

Officials at Volkswagen A.G. said today that the former chief of the company's foreign exchange division had agreed to be questioned by prosecutors looking into allegations of foreign exchange fraud that cost the company $259 million.

Retail brokers, while largely controlled and regulated in the USA by the Commodity Futures Trading Commission and National Futures Association have in the past been subjected to periodic Foreign exchange fraud.

He was harsh and overbearing to counsel, and in the political trials which were so frequent in his time, such as that of Lord Cochrane for Stock Exchange fraud in 1814, showed an unmistakable bias against the accused.