Nick Leeson: Red tape preventing regulators from catching the next rogue trader

Britain's financial regulators are too bogged down in paperwork to focus on catching the next rogue trader, according to Nick Leeson - the man who single-handedly brought down one of Britain's oldest banks.

Mr Leeson - who spent more than six years in jail after losing hundreds of millions of pounds in risky trades that resulted in the collapse of Barings Bank in the mid-1990s - said fraud detection had undoubtedly improved over the past 21 years, but organisations were now failing to take advantage of technology which could free staff to conduct new investigations.