Deutsche Bank widens scope of Russian money laundering probe


Investment giant Deutsche Bank AG (FRA:DBK) has widened the scope of its internal investigation into possible money laundering at its Russian unit.

A report by Bloomberg, referring to people with knowledge of the matter, said the bank was now looking into whether a senior employee took bribes.

The report continues to say that unexplained funds were identified in accounts controlled by the employee and the employee’s spouse.

Deutsche Bank has now increased the scope of the internal probe to examine trading activities with 10 to 12 mainly Russian broker counterparties, the sources told Bloomberg.

On July 30, 2015, Deutsche Bank AG officially confirmed for the first time that it was investigating a significant volume of suspicious Russian trades. The bank said back then that it had taken action against a number of people, without mentioning details on how these were disciplined.

In mid-July this year, it became clear that the New York State Department of Financial Services led by renowned regulatory figure Benjamin Lawsky was investigating the activities of Deutsche Bank AG in Russia over suspicions of money laundering.

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Deutsche Bank widens scope of Russian money laundering probe

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