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Cornelius Cavendish investigates how the USD400 million fraud case involving Citi's Mexican subsidiary, Banamex, has affected receivables finance industry risk strategies one year on from its discovery (more…)
#bank#factoring fraud#frauds
CFO reveals details of secondary case, including amounts involved (more…)
#credit risk#risk
National Banking and Securities Commission introduces new guidelines for factoring companies (more…)
#credit risk#factoring fraud#management
Mexican authorities issue warrants and charge Oceanografнa CEO (more…)
#bank#confirming#WHO
Senior executives amongst those fired for failing to prevent USD400million fraud (more…)
#bank#international#risk
CNBV to introduce more stringent procedures for lax banks by Q4 (more…)
#bank#banks#Paid
When a company's back is to the wall, passing fresh air invoices to their factoring provider usually starts as a…
#frauds#international#invoice
Amado Yanez held for questioning (more…)
#bank#receivables
The three sets of problem loans were identified in a research report by John McDonald, an analyst at Sanford C.…
#bank#conference
Fitch says recent Banamex's exposure and losses do not affect its overall financial condition (more…)
#bank#management#risk
The Securities and Exchange Commission is investigating a fraud connected with the receivables finance programme of Citigroup’s Mexican subsidiary. (more…)
#anti-money laundering#bank#receivables
Mexico's second largest bank Banamex has launched an online financial services portal for small and medium-sized enterprises (SMEs), the company…