/ world today news/ Deutsche Bank, the largest German bank, may be fined up to $4 billion for aiding money laundering in Russia and for violating the US sanctions regime against Russia and Iran, writes the German magazine Spiegel. referring to associates from the financial institution.
For the possible amount of the fine, the text of the article gives the figures 4 billion dollars and 4 billion euros ($4.46 billion). “Spiegel” notes that the bank is threatened with fines of hundreds of millions of euros by the British Financial Supervisory Authority alone. The demands of the US supervisory authorities on Deutsche Bank are even greater.
According to Spiegel, the investigation into money laundering and possible violations of the sanctions regime is being conducted by the authorities of four countries. Russian authorities suspect employees of the bank of helping their clients in Britain sell shares bought for rubles in Russia. In this way, about 6 billion dollars of dubious origin may have been transferred abroad. The investigation into these violations began after information provided by the Central Bank of Russia, Spiegel reports.
An investigation is also underway in the US, because it became known that the transactions were in dollars. The Ministry of Justice is investigating the so-called mirror trading, when customers – in this case with the help of bank employees, buy shares in rubles and through simultaneous transactions buy the same shares already in London, but for dollars, thus transferring funds from Russia without informing the authorities.
“Deutsche Bank” is the largest bank in Germany, and has been operating in Russia since 1881.
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