The Banamex Fraud – Assessing the Impact One Year On

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. Just over a year ago, in February 2014, Citi Group discovered its Mexican subsidiary, Banamex, had been the victim of a massive fraud. The incident was widely reported as a factoring fraud though, according to some, was more likely securitisation-based; with an estimated USD400 million defrauded over the course of several years.

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Press Release

Sep 2020

Finacity Arranges a EUR 60 million Receivables Securitization Facility for Kongsberg Automotive ASA

Finacity Corporation (“Finacity”) announces the closing of a trade receivables securitization program for Kongsberg Automotive ASA [OB: KOA] (“Kongsberg Automotive”), the Norwegian supplier to the global automotive industry. The securitization program finances trade receivables originated by the company’s businesses in the US, Canada, France, Poland and Slovakia.

Press Release

May 2020

Finacity Arranges Receivables Securitization for Startek, Inc.

Finacity Corporation (“Finacity”), a member of the Greensill family of companies, announces the close of a trade receivables securitization program for Startek, Inc. (“Startek”) in April 2020. The securitization program finances receivables originated by Startek’s entities in the United States.

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