Deutsche Bank fined again for money-laundering from Russia

Deutsche Bank снова оштрафован за отмывание денег из России

The German Bank has not taken sufficient measures to prevent money laundering.

The Federal reserve system (the fed) has fined Deutsche Bank by 41 million dollars (37 million euros) due to the fact that the Bank has not taken sufficient measures to prevent money laundering.

The fed has declared “unsafe and unreliable” practices of the Bank and ordered it to improve enforcement of American laws in the sphere of counteraction of money laundering.

Deutsche Bank has already declared the intention to fulfill all the requirements of the us regulator, dpa reported.

In January 2017, the Bank was fined in the United States for 425 million dollars in the scheme of “mirror transactions” with Russian shares. The result of these operations, from 2011 to 2015 from Russia was withdrawn about 10 billion dollars.

As stated then, the new York Department of financial services (DFS), in the scheme of “mirror transactions” were involved clients who bought shares in Russia, as well as other stakeholders who shortly thereafter sold these shares through the London branch of Deutsche Bank. Of the transactions passed through the Bank’s office in new York.

At the end of March 2017 court of Connecticut ruled that Deutsche Bank Group Service, whose headquarters is in London, is obliged to pay 150 million dollars in fines for manipulation of interest rates.

In April, the Federal reserve fined the Bank for 156 million dollars, this time the reason was “unsafe practices in the foreign exchange markets.”

As reported Корреспондент.netdozens of German banks laundered money from Russia. Questionable payments conducted at least 27 German banks.

Source: Russian service of Deutsche Welle