Deutsche Bank Shares Fell 6% On Reports Of Suspicious Transactions
The world's largest banks JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York Mellon continued to serve businessmen who fell under US sanctions, including from Ukraine and Russia, although the US authorities several times heavily fined credit organizations for money laundering, according to new material from the international consortium of investigative journalists and BuzzFeed News. The investigation is based on documents from the US Treasury Department's FinCen division, which is engaged in financial verification of questionable banking transactions.
On Sunday, the German newspaper Süddeutsche Zeitung, TV and radio companies NDR and WDR reported, based on FinCen materials, that Deutsche Bank could have been involved in" suspicious stock trading " for Russian clients. The relevant checks at the Bank took place in 2014, but no action was allegedly taken on their results. The FinCen documents also "repeatedly mention" the German Commerzbank, referring to "dubious transactions with the Russian Svyaz Bank," süddeutsche Zeitung, NDR, and WDR reported. According to FinCen materials, Deutsche Bank and Commerzbank informed the US regulator with serious delays about suspicious transactions, German media write.
Deutsche Bank commented on the data of the journalistic investigation, pointing out that these topics concerning the Bank "are known to the Supervisory authorities," they were "investigated and led to an agreement with the departments, during which it was announced publicly that the Bank would cooperate and take corrective measures."