On November 15, 2023, according to Barron's citing an informed source, citigroup is under investigation by us government agencies due to its relationship with sanctioned Russian billionaire Suleiman Abusaidovich Kerimov. Reports indicate that the us Department of Justice, the Federal Bureau of Investigation, and the Internal Revenue Service are investigating the bank's collaboration with Heritage Trust, based in Delaware, which holds assets owned by Kerimov. A citigroup spokesperson stated: "citigroup is committed to the highest respect and compliance with all applicable laws and regulations in conducting all business. At the same time, we are actively winding down nearly all institutional banking operations in Russia while continuing to close the consumer banking business in Russia." It was reported that part of the investigation involves citigroup's anti-money laundering processes and customer reviews.