DOJ probes Citigroup Californian subsidiary over reporting lapses

|About: Citigroup Inc. (C)|By:, SA News Editor

The Department of Justice is investigating a Citigroup (C) unit in California for possibly failing to tell the government about suspicious banking transactions along the U.S.-Mexico border that involved suspected members of drug cartels, the WSJ reports.

Citigroup has already disclosed the probe but didn't provide specifics.

The inquiry into Banamex USA adds to other government investigations into Citigroup following the emergence of a $400M fraud involving the bank's Banamex Mexican unit.