Rogue trading

Japanese

不正取引

Also known as

Unauthorized trading

Last reviewed

September 26, 2026

This is a draft, shown for review before publication.

Rogue trading is when a trader enters into trades beyond the authority or limits given to them and hides the resulting positions or profits and losses with fictitious trades or manipulated bookings. Losses tend to grow before it is found, and banks manage it as one type of operational risk.