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From: InfoSec News (alertsinfosecnews.org)
Date: Wed Dec 24 2008 - 05:14:22 CST
By Richard Behar
December 23, 2008
For months, the World Bank has been stonewalling and denying a series of
FOX News reports on a variety of in-house scandals, ranging from the
hacking of its most sensitive financial data to its own sanctions
against suppliers found guilty of wrongdoing.
But last week the world's most important anti-poverty organization
suddenly came clean — sort of — in its tough sanctions against a vitally
important computer software service supplier that has been linked not
only to financial wrongdoing but also to the ultrasensitive data heists.
A top bank official, FOX News has learned, has admitted that a leading
India-based information technology vendor named Satyam Computer Services
was barred last February from all business at the bank for a period of
eight years — and that the ban started in September.
The admission confirms what FOX News reported from its own bank sources
on October 10 — a report the World Bank officially disparaged at the
The World Bank's revelation of the ban on Satyam comes at a watershed
moment for the $2 billion (sales) outsourcing giant, which boasts more
than 100 Fortune 500 companies as clients and which trades on the New
York Stock Exchange. Last week, India's securities commission announced
that it would investigate Satyam.
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