Bloomberg News reports that KBC and Deutsche Bank have frozen some Radiant World Singapore bank accounts.

Bloomberg News reported that a number of Radiant World Singapore 'bank accounts have been frozen by Deutsche Bank and KBC Group NV, while other banks have suspended credit lines.

The report cited people who were familiar with the matter to say that Rio Tinto SA and Vale SA had removed Radiant World from their list of approved customers.

Radiant World is under scrutiny after Bloomberg News reported that Cargill Group and Vitol Group cut ties last week over concerns that invoices, or other documents Radiant World had provided to its bank were invalid.

Radiant World had previously called these claims "inaccurate" and "unsubstantiated". The company did not respond immediately to a comment request on the report published Thursday.

Rio Tinto refused to comment. Radiant World is not a major concern for the miner, said its chief executive of iron ore,?Matthew Holcz on Wednesday.

Deutsche Bank, Vale, and the?KBC Group?didn't immediately respond to comments.

Glencore CEO Gary Nagle said on Wednesday that the company has 'taken a provision in its account related to Radiant World, and stopped doing new business with this?firm. It also added that the exposure was not significant. Reporting by Gursimran K. Kaur, Anousha S. Sakoui, Divya R. Rajagopal Veronica Brown, and Tom Daly. Janane Vekatraman, Mark Potter and Janane Venkatraman edited the article.

(source: Reuters)