Deutsche among four banks in money-laundering probe

NEW YORK — Deutsche Bank AG is among four European banks being investigated by US regulators for alleged money-laundering violations, according to an attorney with knowledge of the matter.

By (Bloomberg)

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Published: Sun 19 Aug 2012, 10:18 PM

Last updated: Tue 7 Apr 2015, 12:16 PM

Federal regulators, including the US Treasury’s Office of Foreign Assets Control, the Federal Reserve, the Justice Department and the New York District Attorney’s office are all involved in the probe of Deutsche Bank and three other European banks, said the attorney, who asked not to be identified because the investigations are confidential.

“Deutsche Bank had decided by 2007 to reject any new business with Iran, Syria, Sudan and North Korea and to end existing relationships to the extent it was legally possible,” Deutsche Bank spokeswoman Friederika Borgmann said. The regulators were in advanced stages of an investigation into banking violations at Standard Chartered when the superintendent of New York’s banks, Benjamin Lawsky, moved first in that matter with an August 6 order accusing the London-based lender of multiple violations of state banking laws.

Once the federal regulators resolve their own concerns with Standard Chartered, they will proceed against the four European banks they have been investigating, including Deutsche Bank, according to the attorney.



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