Deutsche Bank is afraid to be accused of money laundering
Deutsche Bank reportedly fears fines, legal action and possible prosecution of directors for his role in a Russian money laundering affair. The Guardian reports this on the basis of an internal report on which the British newspaper was able to lay hands.
Deutsche Bank, through its network, would have been involved for years in a huge money laundering operation, also known as Global Laundromat. Russian criminals used this to send an estimated tens of billions of dollars to the West.
According to The Guardian, Deutsche Bank was not aware of the scam until, among other things, the British newspaper itself first published about it two years ago. The issue could possibly add a new dent to Deutsche Bank’s already questionable reputation. The internal report refers to a possible loss of investor confidence and a fall in market value.
The German justice department already raided the bank last year in connection with a money laundering investigation based on documents from the so-called Panama Papers. The financial concern is also examined because of business ties with the president Donald Trump.