National Australia Bank, parent company of National Irish Bank, and Australia's biggest bank said today it faced losses of up to AUD$180 m (€109 m) after uncovering unauthorised foreign exchange option trading.
Four employees in the bank's foreign exchange trading area have been suspended over the trading, which took place between October and January ,a National spokesman said.
The bank said in a statement to the Australian stock exchange it had taken immediate action to close out the losses and minimize the chance of further loss.
