Japan Tells Citigroup to Shutter Unit
- Share via
From Reuters
Japan ordered Citigroup Inc. to close its Japanese private banking offices after uncovering a series of problems, including a failure to prevent suspected money laundering.
The sanctions effectively shut the world’s largest financial services company out of the lucrative private banking business in Japan. It also marked the third time this week that New York-based Citigroup either apologized for or acknowledged missteps that drew the ire of international regulators.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
