Global bank JPMorgan Chase has announced a catastrophic $2bn overnight loss, which is being attributed by some analysts to a London-based trader who goes by nickname 'The White Whale'.
According to the Washington Post, the Whale's identity is French-born trader Bruno Michel Iksil.
Jamie Dimon, the bank's chief executive, attributed the huge losses to "many errors, sloppiness and bad judgement" before revealing that a further $1bn could disappear within the next quarter.
While the actions of the White Whale will significantly damage the bank, rogue traders have in the past brought down banks, swindled investors out of millions of pounds and served vast prison sentences between them.
Most recently, Kweku Adoboli, the British trader, allegedly hid losses of more than £1bn from UBS. He awaits trial in September this year.
Among others, Japanese copper magnate, a French fraudster and a notorious British trader who brought down an entire bank in Singapore stand out as the most serious rogue traders in finance history.
Read through our slideshow below to see some more famous fraudsters...