Ukraine PrivatBank has filed a $3 billion claim against PwC for serious and extensive breaches in its audit. The Chairman of PrivatBank stated that PwC had failed absolutely to identify the ongoing operation of the huge fraud within the bank over many years which resulted in virtually the entire corporate loan book of the bank being non performing and without any or any adequate security.
PrivatBank Bank was nationalised in 2016 due to the alleged frauds.