Indonesia issues tough sanctions for Citibank

bank-indonesia

Bank Indonesia on Friday levied robust sanctions on Citibank following a scandal involving employees of its priority service, Citigold, and credit card fraud.

"As a follow-up measure to the problems plaguing Citibank… Bank Indonesia conducted a special audit to confirm violations of prevailing regulations," the central bank said in a statement, in which it banned the institution from opening any new branches for a year.

The investigation found violations of internal bank regulations and exposed

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