The US Federal Reserve fined Deutsche Bank by $ 41 million, due to the fact that the bank did not prevent money laundering. As a result of “mirror transactions” with Russian shares from the Russian Federation, about $ 10 billion
The Federal Reserve System of the United States (FRS) fined Deutsche Bank for $ 41 million (37 million euros) because the bank did not take sufficient measures to prevent money laundering. This is reported on Tuesday, May 30.
The Fed said it was “unsafe and unreliable” practices of the bank and obliged it to improve control over the implementation of US laws in the field of combating money laundering. Deutsche Bank announced its intention to comply with all the regulations of the American regulator, reports dpa.
In January 2017, the bank was fined in the US for $ 425 million for a scheme of “mirror transactions” with Russian shares. As a result of these operations from 2011 to 2015, about $ 10 billion was withdrawn from Russia.
As the then New York Department of Financial Services (DFS) said, clients who bought shares in Russia, as well as other interested parties that shortly afterwards sold the same shares through the London branch of Deutsche Bank, were involved in the “mirror transactions” scheme. Part of the operations took place through the bank’s office in New York.
At the end of March 2017, the Connecticut court ruled that the Deutsche Bank Group Service, whose headquarters is in London, is required to pay a $ 150 million fine due to manipulation of interest rates.
In April, the US Federal Reserve fined the bank for $ 156 million – this time the reason was “unsafe practices in foreign exchange markets.”
2016 Deutsche Bank completed with a loss of $ 1.4 billion.