Nick Leeson, whose actions led to the collapse of Barings Bank in 1995, was the keynote speaker at the third annual Yorkshire and Humber Fraud Forum.

Mr Leeson addressed business leaders from the region at the conference and told theem about how his illegal trading ended in one of the biggest financial disasters of our time.

Speaking to the YEP, Mr Leeson said: "The current crisis has been building up over years and it's the people at the top who are to blame- you have a central bank and a government that don't really understand the financial markets.

"You only have to look at America- where Congress voted against a rescue package- to see that the people who matter are not going to put their trust in the bank bosses anymore."

Mr Leeson's rogue trading famously led to the collapse of Barings - the Queen's own bankers - when his dealings lost the bank more than £800 million.

He was subsequently jailed and survived colon cancer. Leeson was played by Ewan McGregor in a film about his life.

He said: "I'm here to tell people my story - it's an honest account and it doesn't paint me in a very good light."

He added: "People are very unsure at the moment and have got themselves badly into debt over the years and now all that is coming to a head with the current financial downturn. I think to be honest, there's no way that people can avoid it and everyone is going to feel it in some way."

The YHFF is a "non-profit" organisation set up in 2006 and is supported by organisations including South Yorkshire Police, Yorkshire Forward, the Federation of Small Businesses and People United Against Crime, as well as local business leaders from Yorkshire and Humberside.

It aims to promote fraud awareness and successful fraud prevention strategies across both public and private sectors.

Part of the forum's ethos is that it is important to understand the motivation of the fraudster to protect businesses.