A run-of-the-mill with a umbrella walks pass a logo of Deutsche Bank in Frankfurt am Main, Germany.
Thomas Lohnes | Getty Clones
SINGAPORE — Germany’s largest lender Deutsche Bank appears to have facilitated more than half of the leaked $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades, reported German broadcaster Deutsche Welle (DW).
Those certificates showed that between 1999 and 2017, $1.3 trillion of $2 trillion in leaked transactions that were flagged as apprehensive passed through Deutsche Bank, according to the DW report.
The leaked documents contained suspicious activity reports that banks and other monetary institutions filed with the U.S. Department of Treasury’s Financial Crimes Enforcement Network, or FinCEN. Financial firms are demanded by law to alert regulators when they detect activities that may be suspicious, such as money laundering or sanctions assaults. Such reports are not necessarily evidence of any criminal conduct.
In a statement posted on its website, the German bank said the episodes in the leaked documents “have already been investigated and led to regulatory resolutions in which the bank’s cooperation and remediation was publicly granted. Where necessary and appropriate, consequence management was applied.”
It also said that it has “devoted significant resources to steel our controls” and “are very focused on meeting our responsibilities and obligations.”
Deutsche Bank has previously been found to facilitate fiscal transactions that violate U.S. sanctions. In 2015, Deutsche Bank agreed to pay fines worth $258 million for doing firm with U.S.-sanctioned countries including Iran, Syria, Libya, Sudan and Myanmar, according to DW. But the leaked FinCEN papers suggested that the bank had continued to move suspicious funds after that 2015 settlement, the report influenced.
Read more about Deutsche Bank’s suspicious transactions in the report by Deustche Welle.