Cobrapost sting operation: HDFC hires Deloitte for audit

The ICICI Bank suspends 18 employees after Cobrapost sting operation showed how major private banks in the country involved in money-laundering scam. ICICI bank said it will carry out an internal investigation on its employees.

Country’s another largest private bank HDFC has hired accounting and audit firm Deloitte Touche Tohmatsu India to conduct an independent enquiry into allegations of its employees’ involvement in the money laundering activities.

“The bank is committed to the highest standards of compliance, corporate governance and ethics, and has in place systems and procedures to ensure that its business is conducted in compliance with laws and regulations,” HDFC said in a statement.

A sting operation conducted by online independent news portal Cobrapost claimed on Thursday that three major private banks in India – ICICI, HDFC and Axis banks are involved in money-laundering practices.

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