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Deutsche Bank Remains Committed To Cooperating With Investigators

U.S. congressional investigators have reportedly found that Deutsche Bank AG might have failed in money laundering controls in its dealings with Russian oligarchs.

The committee based its findings on transaction records, emails and other documents provided by the bank.

According to reports, the investigators found that the employees of the bank, located in the United States, had raised concerns about newly acquired Russian clients. However, those warning had been ignored at a higher level.

"We cannot comment on the work of the Congressional Committees. On the subject of the bank's controls, we reiterate what we said at the time we resolved the Russia-related matters with regulators: After our internal review identified certain deficiencies, we have worked to address them, taken disciplinary measures with regards to certain individuals and reviewed our client onboarding and monitoring processes. We remain committed to cooperating with authorized investigations," the bank announced in a statement.

Reports say that there is no guarantee whether any action is going to be taken against Deutsche Bank in the end.

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