Royal Bank of Scotland (RBS) has been fined $610m by UK and US authorities for its part in illegal rate-fixing.http://www.bbc.co.uk/news/business-21348719 Misconduct at RBS was “widespread” and had involved “a number of employees and occurred over a number of years”. Investigators found that RBS traders colluded with other traders to try to fix rates between 2006 and 2010. Libor rate-fixing continued at RBS, even after traders learned that regulators had opened investigations into the bank. The point was to make money by investing in interest rate swaps, or betting on rates, which were influenced by the Libor rate which was rigged.