BI Orders Citibank to Stop Accepting New Private Banking Clients

Bank Indonesia has ordered Citibank not to accept new clients for its Citigold private banking services in the country after a staff member allegedly embezzled at least IDR17 billion ($2 million), said the central bank's governor Darmin Nasution.
Nasution said Tuesday in a hearing with a parliamentary committee that Bank Indonesia could impose more “severe sanctions“ against Citibank if it uncovers more wrongdoings.
The police recently detained Citibank's private banking officer Melinda Dee on allegation she has illegally transferred clients' money to her company's bank accounts. The police also seized several expensive cars in her possession, including a Ferrari, Hummer, and Mercedes Benz.
If the authorities find her guilty of the alleged embezzlement, Citibank has said that it will compensate all affected customers.