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Citigroup probes 'suspicious' India deals

By Harmeet Shah Singh, CNN
Citigroup has had a presence in India for 107 years, opening its first office in Kolkata.
Citigroup has had a presence in India for 107 years, opening its first office in Kolkata.
STORY HIGHLIGHTS
  • Bank did not disclose the amount of the transactions
  • An employee allegedly forged documents, the bank says
  • The transactions involve 'a few' accounts

New Delhi, India (CNN) -- Citigroup's India unit has launched an investigation into suspicious transactions based on documents believed forged by an employee, the bank said in a statement.

A police complaint has also been filed in connection with the suspicious transactions that happened at a bank branch in Gurgaon, a New Delhi suburb, according to the statement Tuesday.

The bank did not disclose the amount of the alleged fraudulent transactions, which it said involved "a few" accounts. Nor did it reveal the identities of those involved.

In its complaint, the bank said it had also named "external" individuals thought to be linked with the deals under investigation.

"Identified suspicious transactions have been isolated and we are providing full assistance to the authorities in their investigations. This issue does not impact other accounts, transactions or customers of the bank," the statement said.

Citigroup opened in India 107 years ago in the eastern city of Kolkata.

The bank operates 42 branches in 30 cities across the South Asian nation, according to its website.