An internal investigation by French bank Societie
Generale (SocGen) into the£3.6bn fraudthat resulted after a
rogue trader made unauthorised investments has recommended the use
of biometric security to prevent a similar event happening
again.
In January, the bank uncovered massive losses that were made as
a result of a
rogue trader, Jerome Kerviel, using his knowledge of
back-office systems and built-in checks and balances to evade
detection of unauthorised trading activities.
The report said that IT security should be tightened through the
development of biometric security systems.
Among other things, the report said a priority should be
"
strengthening IT security through the development of strong
biometry.