Deutsche Bank Under Investigation For Money Laundering

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Nov 29, 2018

Frankfurt, Germany

Deutsche Bank Raided For Money Laundering

The size of the raid and sums of money involved suggest that a yearslong effort to remake the bank’s culture and improve compliance has fallen short. During the last decade, Deutsche Bank has paid billions of euros of fines for an array of misconduct, including deceiving buyers of mortgage-backed securities, colluding with other banks to rig benchmark interest rates and manipulating foreign exchange trading to the detriment of customers.

“This says they are not genuine and sincere about changing this culture of noncompliance and changing this culture of impunity,” said Jimmy Gurulé, a former United States assistant attorney general who is a professor of criminal law at Notre Dame Law School and has written several books on terrorism financing.

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