Arab Today, arab today deutsche bank said to face us money laundering probe
Last Updated : GMT 10:14:37
Arab Today, arab today
Arab Today, arab today

Deutsche Bank said to face US money laundering probe

Arab Today, arab today

Arab Today, arab today Deutsche Bank said to face US money laundering probe

German banking giant Deutsche Bank
New York - AFP

US authorities are investigating German banking giant Deutsche Bank over alleged money laundering in Russia, people familiar with the matter said Monday.

The investigation centers on billions of dollars' worth of transactions carried out by Deutsche Bank in Russia that New York state regulators believe may have been used to disguise money illegally moved out of Russia, the sources told AFP.

The New York Department of Financial Services (DFS) began the investigation of Deutsche Bank early this summer, sources said.

According to these sources, Russian clients unsuccessfully attempted to bribe a Deutsche Bank employee in Moscow in a bid to hide the origin of their money.

A Deutsche Bank spokeswoman said that Germany's largest lender had placed on leave "a small number of individuals" in its Moscow office pending an internal review.

"We are committed to participating in international efforts to detect and combat suspicious activities and we take strong action where we find evidence of misconduct," she said.

Deutsche Bank has informed regulators at Britain's Financial Conduct Authority and Germany's BaFin of its internal probe into the Russian division's transactions from 2011-2015.

New York investigators suspect securities bought in Moscow through Deutsche Bank were done in parallel with other Deutsche Bank trades in London in international currencies.

The probe centers on whether these transactions, called "mirror trades," permitted these clients to move large amounts of money out of Russia while hiding the source of the funds, the sources said.

In April, Deutsche Bank was fined $600 million by the DFS, part of fines totaling $2.5 billion by US and British authorities for rigging Libor interest rates, used to peg millions of contracts around the world, in a multi-bank conspiracy.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today deutsche bank said to face us money laundering probe Arab Today, arab today deutsche bank said to face us money laundering probe

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday