US Federal Reserve is probing Deutsche Bank over billions in suspicious transactions in another twist in the Danske Bank money laundering scandal

  • The US Federal Reserve is investigating how Deutsche Bank handled billions suspicious payments from Danske Bank, as regulators try to unravel who was involved in one of the largest financial scandals in history.
  • Citing people familiar with the matter, Bloomberg said the probeis in early stages and is looking at Deutsche Bank properly monitored funds from an Estonian branch of Danske Bank.
  • In the Danske scandal, the Danish bank has said that many of the 200 billion euros in payments that flowed through the Estonian unit between 2007 and 2015 were suspicious.
  • You can follow all Business Insider’s coverage of the Danske Bank scandal here.

The US Federal Reserve is investigating how Deutsche Bank handled billions suspicious payments from Danske Bank, as regulators try to unravel who was involved in one of the largest financial scandals in history.

Bloomberg, citing people familiar with the matter, said the probe is in early stages and is looking at Deutsche Bank properly monitored funds from an Estonian branch of Danske Bank.

The German lender is under increasing pressure after a litany of allegations have helped torpedo the bank’s stock in the last year. Deutsche Bank’s offices were raided twice late last year in connection to an investigation about the bank’s role in the Panama Papers global money-laundering scandal.

In the Danske scandal, the Danish bank has said that many of the 200 billion euros in payments that flowed through the Estonian unit between 2007 and 2015 were suspicious. Most of the payments came from Estonia, Russia, Latvia and Cyprus and Britain, and shell companies were used to disguise identities.

www.businessinsider.com/danske-bank-scandal-federal-reserve-probes-deutsche-bank-2019-1

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