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U.S. digs deeper into Deutsche - sources

Credit: Reuters Studio
Published on December 2, 2019 - Duration: 01:06s

U.S. digs deeper into Deutsche - sources

Exclusive: the U.S. Department of Justice has stepped up its investigation into Deutsche Bank's role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, people familiar with the inquiry told Reuters.

David Pollard reports.

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U.S. digs deeper into Deutsche - sources

Germany's Deutsche Bank could now be under closer scrutiny by US justice officials ..

Over its role in Danish lender Danske Bank's huge money laundering scandal.

Sources tell Reuters the Department of Justice has in recent weeks stepped up investigations ... And is working with Frankfurt prosecutors.

Danske's admissions last year that 200 billion euros of suspicious payments flowed through its Estonia branch triggered probes worldwide.

The bulk of payments - sources have previously told Reuters - were processed by Deutsche.

One source says the new line of inquiry is over whether Deutsche helped move tainted money from Danske into the US.

If so, it could lead to steep financial penalties.

Deutsche has already paid 700 million dollars in fines by US and British regulators over a separate money laundering case.

A spokesman for the German lender said it had significantly improved controls in recent years.

But the sources say investigators are also looking at whether it was too slow to report suspicious transactions.

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