A questionable $62 million BankBoston Corp. loan to an Argentine businessman points to a clear lack of internal controls in the often murky world of international private banking, according to banking analysts.

The analysts also predicted that the case, involving an Argentine businessman who obtained a loan, allegedly fraudulently, with the help of a BankBoston private banker, is neither the first nor the last such incident.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.