Photo: Richard Drew / AP
German Deutsche Bank fears prosecution from foreign authorities in connection with participation in dubious schemes by which customers from Russia could launder money. On Wednesday, April 17, writes The Guardian, citing an internal report of the credit institution.
According to the publication, the management believes that it may face “serious disciplinary consequences” from regulating bodies of the USA and the UK. In particular, their investigation can lead to lawsuits, fines and prosecutions of individual executives.
Another risk associated with the Bank’s reputation and the possible loss of clients and future investors, which will lead to the fall of quotations on the stock exchange, and hence reduce the market value of the credit institution.
In the course of internal audits, the report found about 700 thousand suspicious transactions between different companies with accounts in Deutsche Bank, totaling 189 million dollars. Most of these companies the Bank believes to be a fake.
Earlier The New York Times wrote that the house of representatives of the U.S. Congress sent a request to several European banks, including Deutsche Bank, with the requirement to provide information about cooperation with the President of the United States Donald trump prior to his election as head of state. It is known that the German Bank gave Trump credit for two billion dollars.
In 2017, Deutsche Bank was at the center of a scandal involving the laundering of money related to Russia, and received the name “global Laundry”. The total volume of illegal operations is estimated at $ 80 billion. The scheme was allegedly involved shell companies in the UK and Latvian Bank ABLV, later faced with claims from the U.S. Treasury and lost their license.
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