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Which of the following statements best reflects the analyst's insights into the contributing causes of Barings Bank's collapse, considering historical context and the specific financial risks involved?
A
Leeson avoided reporting the unauthorized trades by convincing the head of his back office that they did not need to be reported.
B
Management failed to investigate high levels of reported profits even though they were associated with a low-risk trading strategy.
C
Leeson traded primarily in OTC foreign currency swaps that allowed Barings Bank to delay cash payments on losing trades until the first payment was due.
D
The loss at Barings Bank was detected when several customers complained of losses on trades that were booked to their accounts.
