Europe, Financial, Global Banking, News

Deutsche Bank Fined $41 Million for Money Laundering Lapses

Deutsche Bank Fined $41 Million for Money Laundering Lapses

Deutsche Bank AG agreed to pay $41 million to settle Federal Reserve allegations that its U.S. operations failed to maintain adequate protections against money laundering. The bank’s insufficient monitoring involved billions of dollars in “potentially suspicious transactions” processed between 2011 and 2015.

“The bank’s insufficient monitoring involved billions of dollars in potentially suspicious transactions.”

~ Bloomberg

Deutsche Bank has recently reached settlements with the U.K. and New York State’s Department of Financial Services over trades that allegedly helped wealthy Russians move some $10 billion out of the country.

Related Reports: Bloomberg, Wall Street Journal

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Visit: Deutsche Bank

 


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