Friday, October 23, 2020

Deutsche Bank denies report it prevented Trump transactions being flagged

-

Deutsche Bank denied a report that said some of its executives rejected the advice of the bank’s own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, being filed with the government.

“At no time was an investigator prevented from escalating activity identified as potentially suspicious. Furthermore, suggestion that anyone was reassigned or fired in an effort to quash concerns relating to any client is categorically false,” Deutsche Bank said in a statement on Monday.

Citing five current and former Deutsche Bank employees, the New York Times reported on Sunday that the transactions, some of which involved Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity.

Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes, according to the newspaper.

- Advertisement -

Deutsche Bank were down 1.5% in pre-market trading in Frankfurt.

- Advertisement -
- Advertisement -

MUST READ

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...
Advertisement
Advertisement

Latest News

This Week

Former Mississippi city clerk pleads guilty to money laundering

A former administrator for a Mississippi city has pleaded guilty to money laundering and making false statements on a federal tax return, federal authorities...

US financial watchdog fines bitcoin mixer operator $60m for money laundering

The founder and operator of some of the first "mixing" services in crypto will have to cough up $60 million to United States regulators,...

Crown Resorts chairman Helen Coonan admits casino ‘enabled’ money laundering

Crown Resorts chairman Helen Coonan has conceded the casino giant facilitated money laundering at its Melbourne casino, but blamed it on "ineptitude" rather than...

Spain extradites former bank CEO sentenced in Iran for corruption

Spain has extradited a fugitive former Iranian executive implicated in a large financial corruption case, in what Iran’s judiciary says is the first such...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks