Arab Today, arab today more us regulators probe citi banamex on laundering
Last Updated : GMT 18:22:38
Arab Today, arab today
Arab Today, arab today

More US regulators probe Citi, Banamex on laundering

Arab Today, arab today

Arab Today, arab today More US regulators probe Citi, Banamex on laundering

Citigroup and subsidiary Banamex
New York - AFP

Citigroup and its Banamex subsidiary have been questioned by additional US regulators over compliance with bank secrecy and anti-money laundering rules, Citi disclosed in a securities filing.
Citigroup and the US unit of its Mexican banking subsidiary Banamex face inquiries from the Treasury Department's Financial Crimes Enforcement Network and the California Department of Business Oversight, according to the bank's annual report to US securities regulators on Wednesday.
That is on top of a previously disclosed grand jury probe into Citi and Banamex USA led by the US attorney of the state of Massachusetts, and a subpoena to Banamex USA from the Federal Deposit Insurance Corporation.
"Citigroup is cooperating fully with these inquiries," the third-largest US bank said in the filing.
The probes come on the heels of an executive shakeup at Mexico-based Grupo Financiero Banamex following a fraud scandal last year.
In February 2014, Citi took a charge of about $235 million, revising its 2013 annual results lower, saying it had discovered "significant" fraud on the books of oil contractor Oceanografia after having lent it $585 million through a Banamex unit.
After that, Citi fired a dozen employees involved with Banamex, including four managing directors. In October, the chief executive of Banamex resigned.
US and Mexican regulators, including the US Department of Justice, have opened probes into Banamex's dealings with Oceanografia, Citi has said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today more us regulators probe citi banamex on laundering Arab Today, arab today more us regulators probe citi banamex on laundering

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today more us regulators probe citi banamex on laundering Arab Today, arab today more us regulators probe citi banamex on laundering

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday