Two men in their 20s who worked at the Australian Bureau of Statistics and the National Australia Bank have been charged with insider trading on foreign currency markets.
The Australian Federal Police (AFP) alleges 26-year-old former NAB employee Lukas Kamay, based in Melbourne, used unpublished unemployment, retail and trade data obtained through the ABS officer to trade in foreign exchange derivatives.
“In effect, he utilised sensitive ABS information to predict the fluctuations in the Australian dollar,” AFP spokesman Ian McCartney said.
Quite interesting. Apparently this trader netted a cool $7m before being busted. He got too greedy.