Barings Bank

Barings Bank was a historic British bank founded in 1762, known for serving individuals and businesses. It gained a reputation for stability and tradition. However, in 1995, it collapsed after a rogue trader, Nick Leeson, secretly took large unauthorized positions in the Japanese stock market. His risky trades led to enormous losses that the bank could not cover, ultimately causing its failure. The event highlighted significant risks in financial oversight and led to major reforms in banking regulations worldwide.