Court documents claim another trader changed Libor submission even though he was part of Japanese yen swap desk in London. A former trader for Royal Bank of Scotland Group has claimed that the bank's internal checks were so lax that anyone could change Libor rates. More than a dozen banks, including RBS, are under investigation by regulators in the US, Europe and Asia for suspected rigging of the London interbank offered rate (Libor), which is used to price trillions of dollars of financial products. Barclays was fined £290m in June by American and British authorities for its role in trying to manipulate the interest rates, which affect the cost of borrowing for millions of customers around the world. Court documents filed in Singapore show that Tan Chi Min, who is suing RBS for wrongful dismissal, claimed that in 2008 a trader for the bank, Will Hall, changed the Libor submission himself even though he was part of the Japanese yen swap desk in London. The papers show that Tan, who worked for RBS in Singapore, raised the issue at his disciplinary meeting last September, saying that the bank's internal procedure in London seemed to be that "anyone can change Libor".....Read more here: Former RBS trader claims 'anyone' at bank could change rate