Blog article
See all stories ยป

An article relating to this blog post on Finextra:

Upaid seeks deposition of Satyam executives

Mobile payments firm Upaid has requested depositions from Satyam executives regarding last week's aborted attempt by Satyam to buy up companies related to its chairman, Ramalinga Raju. Upaid claims th...

See article

World Bank bans Satyam for 8 years over lax ethics, security

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.


Comments: (0)

Elton Cane

Elton Cane

Digital product delivery

News Corp Australia

Member since

16 Feb 2007



Blog posts




More from Elton

This post is from a series of posts in the group:

Information Security

The risks from Cyber cime - Hacking - Loss of Data Privacy - Identity Theft and other topical threats - can be greatly reduced by implementation of robust IT Security controls ...

See all