Citibank is the investigation of a fraud of Rs 400 crore by some bank employees in his office in Gurgaon, India committed, said atleast three people and now, on condition of anonymity. It is known that the fraud was discovered by accident and that the banks in Asia-Pacific management team fraud risk in India has been camping for the last two weeks, conducting detailed research and interviews, several employees suspects may be involved fraud in the prosecution.
People familiar with the development and said now that the employees of selling investment products to its customers, alleging that they generate excess returns were suspected. The employees claimed that the products have been approved by the Committee on Banking products and investment bank has to prove fake documents and stamps.
Employees suspected then the proceeds from the sale of these products in their personal bank accounts diverted and deceived customers for an amount of Rs 400 million rupees.
Suspected the employee had access to High Net Worth Individual (INS) of bank customers and were based service whereby the needs of investment products, after a bank employee, who wished to remain anonymous.
She leaned close to 40 customers were affected by fraud, although the figure could be much higher, that investigations are underway.
A spokesperson for Citibank has made the following statement in response to questions from NOW. "Recently we have been an investigation into a specific set of suspicious transactions identified on the basis of false documents by an employee with certain accounts in our centers in Gurgaon. We by all relevant authorities and regulatory and compliance law informed immediately. Suspicious transactions isolated, and we fully support the authorities in their investigations. This problem does not occur on other accounts, transactions and customers of the bank. According to our complaint on behalf of affected employees and other externals seem the perpetrators of these suspicious transactions, the Gurgaon police have a FIR registered. "
The fraud was discovered by chance in accordance with some of the people mentioned above. According to a source, was a senior official at the Retail Banking Division with a customer that he had recently completed a database product that could generate excess returns in a short amount of time talking about said purchased. He said that the customer's bank account is not in the marketing of a product when an investigation was opened on the case.
The investigation could audits by various branches of Citibank in India rise, officially for another bank.
And now for the first time by 15 clock today EST.
It is known that the employee was reported to the police helped the office in Gurgaon, accompanied by his lawyer a day, threatening the bank with disastrous consequences if no action is taken against him.ET something today reported for the first time in history 03:00 clock EST today.
It is known that the employee was reported to the police helped the office in Gurgaon, accompanied by his lawyer every day and threaten the Bank, with disastrous consequences if no action is taken against him.
People familiar with the development and said now that the employees of selling investment products to its customers, alleging that they generate excess returns were suspected. The employees claimed that the products have been approved by the Committee on Banking products and investment bank has to prove fake documents and stamps.
Employees suspected then the proceeds from the sale of these products in their personal bank accounts diverted and deceived customers for an amount of Rs 400 million rupees.
Suspected the employee had access to High Net Worth Individual (INS) of bank customers and were based service whereby the needs of investment products, after a bank employee, who wished to remain anonymous.
She leaned close to 40 customers were affected by fraud, although the figure could be much higher, that investigations are underway.
A spokesperson for Citibank has made the following statement in response to questions from NOW. "Recently we have been an investigation into a specific set of suspicious transactions identified on the basis of false documents by an employee with certain accounts in our centers in Gurgaon. We by all relevant authorities and regulatory and compliance law informed immediately. Suspicious transactions isolated, and we fully support the authorities in their investigations. This problem does not occur on other accounts, transactions and customers of the bank. According to our complaint on behalf of affected employees and other externals seem the perpetrators of these suspicious transactions, the Gurgaon police have a FIR registered. "
The fraud was discovered by chance in accordance with some of the people mentioned above. According to a source, was a senior official at the Retail Banking Division with a customer that he had recently completed a database product that could generate excess returns in a short amount of time talking about said purchased. He said that the customer's bank account is not in the marketing of a product when an investigation was opened on the case.
The investigation could audits by various branches of Citibank in India rise, officially for another bank.
And now for the first time by 15 clock today EST.
It is known that the employee was reported to the police helped the office in Gurgaon, accompanied by his lawyer a day, threatening the bank with disastrous consequences if no action is taken against him.ET something today reported for the first time in history 03:00 clock EST today.
It is known that the employee was reported to the police helped the office in Gurgaon, accompanied by his lawyer every day and threaten the Bank, with disastrous consequences if no action is taken against him.
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