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Private sector lender HDFC Bank has ruled out money laundering in the transactions allegedly captured in the expose by online magazine Cobrapost.
“Clearly, all this (internal investigation) has shown no instances of money-laundering transactions as charged by Cobrapost,” said Paresh Sukthankar, Executive Director, HDFC Bank.
Following the money-laundering allegations by Cobrapost, the second largest private lender had suspended 25 employees and appointed Deloitte for conducting internal forensic audit.
“The investigation is being undertaken in about 25 branches and transactions in the past 12 months are being reviewed,” he said.
Further, the HDFC Bank ED said, the bank has its internal timeline for the investigations. “Hopefully, the investigation will be over in a few weeks. Till the findings are out, the employees will remain suspended.”
Source: thehindubusinessline
“Clearly, all this (internal investigation) has shown no instances of money-laundering transactions as charged by Cobrapost,” said Paresh Sukthankar, Executive Director, HDFC Bank.
Following the money-laundering allegations by Cobrapost, the second largest private lender had suspended 25 employees and appointed Deloitte for conducting internal forensic audit.
“The investigation is being undertaken in about 25 branches and transactions in the past 12 months are being reviewed,” he said.
Further, the HDFC Bank ED said, the bank has its internal timeline for the investigations. “Hopefully, the investigation will be over in a few weeks. Till the findings are out, the employees will remain suspended.”
Source: thehindubusinessline
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