Societe Generale, France's second largest banking establishment, had long had a reputation for having poor internal controls. It is no wonder that a relatively inexperienced trader was able to take advantage of the bank's system of weak internal controls to exceed his trading limit and cause the bank to lose more than €4.9 billion.

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The Answer of Societe Generale, France's second largest banking establishment, had long had a reputation for having poor internal controls. It is no wonder that a relatively inexperienced trader was able to take advantage of the bank's system of weak internal controls to exceed his trading limit and cause the bank to lose more than €4.9 billion.

Societe Generale, France's Second Largest Banking Establishment, Had Long Had