An employee of the European Bank for Reconstruction and Development is under police investigation “in relation to an international investigation into allegations of overseas corruption,” Dow Jones reports.

London police initiated the investigation following a complaint from EBRD, which is also undertaking a “comprehensive internal review” to determine fraud in certain transactions. EBRD spokesman Reijo Kemppinen, however, said the incident was unlikely to be “systemic” or “beyond the activities of one employee.”

Two EBRD employees, a man and a woman, had posted bail following their arrest on Feb. 26.

About the author

  • Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.