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CITIGROUP FRAUD
Rolta India’s Rs 616 crore NPA declared as fraud by Bank of IndiaBank of India declared its Rs 616.30 crore exposure to Rolta India Ltd. as fraud, having fully provisioned the amount. Rolta, an IT solutio...- Citigroup plans to slash IT contractors, hire staff to improve controlsCitigroup plans to reduce its reliance on IT contractors from 50% to 20% and hire thousands of new employees to enhance its internal techno...
- Trade financing feels the aftershocks of $2 billion PNB fraudCiti, Deutsche, StanChart and HSBC are among banks reducing exposure to these transactions.
- Citi India appoints Sampath Kumar as audit headIn this role, Kumar will be responsible for providing independent assurance to Citigroup's stakeholders as it relates to the control enviro...
- UK derivatives trader Tom Hayes gets 14-year jail for rigging Libor rateIn a landmark case, a 35-year-old derivatives trader, who had worked for UBS and Citigroup, was today jailed for 14 years by a UK court for...
- Banks should have separate wealth management unit: RBI draftThe Reserve Bank of India (RBI) has proposed tough norms for banks involved in wealth and portfolio management services (W/PMS).
- Former Citi executive charged with $19 mn fraud in USA former top executive of Citigroup has been charged for allegedly siphoning off more than USD 19 million from the bank, the latest in a st...
- Citi's India asset quality improves as global profit dips by 32 %Net income fell to USD 2.99 billion in the January-March period from USD 4.43 billion in the 2010 first quarter, while Earnings per share f...
- Fraud not to impact Citibank India's short-term rating: FitchFitch said the Rs 400-crore fraud at Citibank India's Gurgaon branch will not impact the bank's short-term credit rating, but warned agains...
- We run risk of employee fraud: Citibank risk factor disclaimerCitibank has acknowledged that it runs the risk of possible fraud by its employees and internal controls may not always be effective.
- Court extends Hero Gr official's police custody in Citi caseA local court here today extended police remand of Hero Group's senior official Sanjay Gupta by seven days to January 15 in connection with...
- Citigroup paying $75 million to settle fraud chargesBanking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprim...
- Abu Dhabi reluctant to invest in BP: ReportAbu Dhabi is reluctant to invest in BP, a report said, only days after the British company's chief was thought to have sought investment fr...
- Six Wall Street banks rake in USD 18 bn profit in Q1America's six financial services behemoths, including Citigroup and Goldman Sachs, have raked in combined profits of USD 18.5 billion in th...
- FBI probes cyber attack on Citigroup: WSJThe US Federal Bureau of Investigation is probing a computer hacking that targeted Citigroup Inc and resulted in the theft of tens of milli...
- Satyam inflated sales by Rs 47.46 billion, says CBIThe Central Bureau of Investigation (CBI) has said that the fraud-hit Satyam Computer Services inflated sales by Rs 47.46 billion.
- Citigroup to sell Japan assets to SMFG: reportCitigroup has agreed to sell some Japanese assets including Nikko Cordial Securities to Sumitomo Mitsui Financial Group for about 500 billi...
- Study sees risk of $1 trillion asset collapseA further collapse in the price of assets, such as stocks and houses, is the largest risk facing world economies in 2009 and could cost as ...
- Citigroup may buy back auction-rate debtCitigroup Inc is in talks with regulators to buy back more than $5 bn of illiquid auction-rate securities and pay a fine of up to $100 mn t...
- Rivals seen circling crisis hit SocGenThe French government rose to the defence of beleaguered Societe Generale even as speculation mounted on Monday that the bank could face a ...
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