Community
Fox News has been dogged in its pursuit of scandals going on at the World Bank, including the hacking cases we wrote about in October.
To add to Satyam's recent woes, they have now confirmed that Satyam has been banned from working for the World Bank for eight years, starting from September.
Apparently the punishment has been meted out for paying "improper benefits to bank staff" and "lack of documentation on invoices." But the fact that the Satyam-supervised computer network of the World Bank Group had reportedly been hacked repeatedly by outsiders for more than a year probably helped too.
This tops off a bad couple of weeks for the Indian IT service company, and will probably cause its share price to dip further.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
07 August
Vitaliy Shtyrkin Chief Product Officer at B2BINPAY
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Viacheslav Kostin CEO at WislaCode Solutions
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.