BI to announce Citibank sanctions today
Bank Indonesia (BI) plans to announce on Friday sanctions it will impose on Citibank following two controversial cases involving the bank.
The announcement will be made at a press conference at 3 p.m, according to report on kompas.com.
Recently Citibank was embroiled in a case of alleged embezzlement implicating its former premium client manager “Melinda Dee” and a murder case connected to the death of Citibank client Irzen Octa following his meeting with debt collectors hired by the bank.
Earlier Bank Indonesia ordered Citibank to refrain from accepting new premium clients and to stop outsourcing debt collectors, although no other sanctions had been imposed.
However, Bank Indonesia intends to announce sanctions for alleged violations Citibank made in the operating procedures of its premium “Citigold” services and for hiring a third-party debt collectors.
Sources by : The Jakarta Post, Jakarta | Fri, 05/06/2011 1:52 PM | Business
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