National News

Punjab National Bank Reports $1.8 Billion Fraud At A Mumbai Branch

 MUMBAI, FEBRUARY 14TH 

Punjab National bank as detected a $1.8 billion fraud at a single branch in the nation's financial hub. Punjab National Bank has detected some fraudulent and unauthorized transactions in one of its branches in Mumbai "for the benefit of a few select account holders with their apparent connivance," it said in an exchange filing on Wednesday. "Based on these transactions other banks appear to have advanced money to these customers abroad."

Feb 14, 2018
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