Reporting Financial

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REPORT ON ANTI MONEY LAUNDERING BY CITIBANK OFFICIAL.

PAGE | CONTENT | 3 | An overview of Citibank | 3;4 | Summary of the scandal | 5;4 | How did the scandal happen | 5;6 | Firm’s negligence and how the malpractise was hidden | 6;7 | Impact on customer and bank | 7;8 | Avoid repeat of such money laundering cases | 8 | The role of institutions | 9 | References |

OVERVIEW
Citibank, an international bank was founded in 1812 on June the 16th by a group of New York merchants as the City Bank of New York. Later it joined the U.S. 's new national banking system and became The National City Bank of New York in 1863.And gradually it had been expanded all over the world and also became the first major U.S bank to establish a foreign department in 1897.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
Citi works tirelessly to serve individuals, communities, institutions and nations. With 200 years of experience meeting the world 's toughest challenges and seizing its greatest opportunities, Citi strive to create the best outcomes for their clients and customers with financial solutions that are simple, creative and responsible. An institution connecting over 1,000 cities, 160 countries and millions of people, Citi is people’s global bank.
In addition, Citibank also known as the consumer banking arm of financial services giant Citigroup as this is the third largest bank holding company in the United States by total assets. With a large retail banking operations in more than 160 countries and territories around the world, especially more than 1,400 offices are in the



References: REFERENCES: (FRIDAY, MAY 6, 2011) ."Indonesia punishes Citi after scandals" By Femi Adi and Andrea Tan (March 7, 2012)."Ex-Citigroup Indonesia Banker Dee Sentenced to 8 Years in Jail for Theft". http://www.bloomberg.com [Retrieved on 23 September,2012] "One of Citibank Scandals May Lead to Money Laundering” By Rangga Prakoso & Carlos K.Y. Paath (February 17, 2012)."Give Malinda 13 Years in Prison, Prosecutors Demand". http://www.thejakartaglobe.com [Retrieved on 23 September,2012] (March 07, 2012)."Citibank 's Malinda Dee Sentenced to 8 Years for Graft" (Wednesday, April 6, 2011)."Malinda Dee | What Are You Looking For?". http://diachra.blogspot [Retrieved on 23 September,2012] (7 March 2012)."Citibank 's Malinda Dee: Eight years for Indonesia fraud" (Friday, 28 September 2012)."New arrest in Citibank scandal". http://www.saudigazette.com.sa [Retrieved on 23 September,2012] (Wednesday, March 11, 2009)."The history of Citibank" By Anthony Deutsch and Taufan Hidayat(May 6, 2011)."Citigroup faces hefty sanctions in Indonesia". http://www.ft.com [Retrieved on 23 September,2012]

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