WASHINGTON (dpa-AFX) – Deutsche Bank is paying a $186 million fine in the United States for allegations of not having corrected deficiencies in money laundering control quickly enough. The US Federal Reserve came to the conclusion that the money house had not sufficiently fulfilled commitments made in 2015 and 2017. Deutsche Bank pays the equivalent of 166 million euros without admitting any wrongdoing. It is designed to meet some of the priority requirements of previous agreements.
The case stems from business relationships with the Estonian branch of Danske Bank, which ended in 2015. Dubious business is said to have been carried out on a large scale via Danske Estonia. In recent years, Deutsche Bank has paid high fines for various allegations, in 2017 alone it was around 630 million dollars in a case of around billions from Russia, which is said to have flowed out of the country to circumvent money laundering regulations.
In a statement Wednesday night, Deutsche Bank welcomed the Federal Reserve’s acknowledgment of progress in patching weaknesses in controls. There are significant improvements in checking customers and monitoring transactions. We see ourselves in a good position to meet the expectations of the supervisory authorities. The fine imposed is largely covered by provisions from previous quarters./so/DP/stw
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