Wipro Finance Staff Embezzles US$4M From Firm's Bank Account

A Wipro employee has been accused of embezzling about US$4 million by stealing a password and transferring money from the company's account at a bank, reveals India's Economic Times.

 

The Times reveals the employee, who had been working for three years in the finance department's controllership division, embezzled crores of rupees during that period.

 

“This has been a case of embezzlement, which we discovered in December, and it’s very unfortunate that this person succumbed to this,” Suresh C Senapaty, Wipro’s CFO told the Times. Senapaty says the company has launched an investigation and is taking actions to ensure stricter adherence to processes.

 

Wipro has disbanded the controllership unit because of the incident, says the Times. The company also plans to more regularly rotate employees working in sensitive functions within the finance department.
 

Read more on

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern