Financial Crime Online

Another rogue banker…. This banker at the Oberbank in Austria is reported to have embezzled over 8 million euros of client’s funds. Internal controls apparently did not pick up the abnormalities until this month while the fraud started in May 2008. The banker allegedly forged client’s signatures to transfer money to accounts in Hungary to [...]

The police in Gurgaon arrested a Citibank relationship banker, Shivraj Puri, in a multi ($70m) million dollar fraud. Puri allegedly opened over 70 bankaccounts in his name and in the name of relatives with several banks in India. The banker lured high net worth clients of Citibank into a bogus Citibank investment program. He promised [...]