Citigroup Ordered to Suspend Some Operations in Japan
June 26, 2009 by admin · Leave a Comment
Citigroup Inc. was ordered by Japan’s financial regulator to suspend marketing of banking services to individuals for a month, after failing to put in place adequate internal controls to prevent money laundering.
The Financial Services Agency told Citibank Japan Ltd. to halt retail banking sales from July 15 to Aug. 14, except in cases where the company is approached by customers, the regulator said in a statement in Tokyo today. It also ordered the bank to improve governance and control systems. Read more…
