Deutsche bank ag acknowledged that its anti money laundering processes remain inefficient more than a year after it was fined almost 700 million for helping wealthy russians move money out of the. Deutsche bank has previously faced scrutiny related to money laundering.
Just when deutsche bank probably thought the worst of its legal troubles over the libor scandal sales of shoddy mortgage backed securities fx and precious metal rigging which collective resulted in tens of billions in legal fines were behind it the struggling german lender is being drawn deeper into the biggest money laundering scandal in european history.
Deutsche bank money laundering 2018. The pictures of. Last year the bank paid a 425 million fine in new york for helping clients of its moscow office illegally move 10. Until publication of intelligence on the occrp website in march 2017 deutsche bank was not aware of the money laundering scheme according to the 2018 audit report which were obtained and first reported on by the guardian.
Last week 170 law enforcement officials descended on the lender to raid it in connection with suspected money laundering. Police raided six deutsche bank offices in and around frankfurt on thursday over money laundering allegations linked to the panama papers the public prosecutors office in germanys. Deutsche bank ag is back at the heart of a scandal.
Deutsche bank offices are raided in money laundering probe prosecutors are investigating two deutsche bank employees who allegedly helped customers set up offshore firms to avoid anti money.