The British Bank, Barclays, is the be investigated by the serious fraud office in the UK into allegations the bank was fixing the Libor rate. The Libor rate is the interest rate for inter-bank lending.

The scandal has already seen the banks chairman, Bob Diamond, leave; and the bank has been fined $451 million. However, there have been suggestions that the scandal goes much higher than the board  of Barclays bank- the Bank of England and whitehall officials have also been implicated.