Tuesday, January 31, 2017

Russia affair: Deutsche Bank needs to just pay 600-million-Euro fine – Handelsblatt

Deutsche Bank

U.S. financial supervision authority imposed a 400-million-Euro penalty. An Insider, according to Deutsche Bank must also pay about 200 million euros to the British banking supervision, the FCA.

(photo: AFP)

Washingtonto settle The Deutsche Bank can be one of your legal Legacy will be significantly less than feared. After the billion-dollar agreement in the US Mortgage settlement is the largest German money house in a money-laundering scandal in Russia, with penalties equivalent to nearly 600 million Euro. $ 425 million (397 million euros) will go to the New York financial supervision authority, the DFS, like this one announced on Monday evening. The British banking supervision, the FCA calls for a further 190 million euros. Deutsche Bank had, according to the financial around one billion euros in circles for the case back.

According to the estimates of investigators have washed Russian customer of the Bank in Moscow and London, and the ruble-black money worth about ten billion dollars. This is been the pattern for years because the Institute had to miss due to lack of sufficient checks on numerous occasions, the manipulation, detect, investigate, and stop, said the DFS.

have known the Bank to the time that you had a great pent-up demand, which relates to compliance with regulations, criticized the DFS Boss Maria Vullo. Even as a European Bank pointed to conflicting information on one of the affected customers did not react the Deutsche Bank and the excuse later that the Manager had had too much to do. Until the end of 2014 – much later than other institutions – have been classified, the Bank of Russia as a high-risk country. Now, she gets a Chaperone to the side, the internal processes against money laundering under the magnifying glass<./p>

The dubious customers had bought at the German Bank in Moscow Russian standard shares in rubles. Associated companies sold the same papers, often on the same day – about Deutsche Bank in London and ended in favour of the US Dollar. The was economically nonsensical, and suggested the suspicion of money laundering, said Vullo. The accusation, to have the opaque Deals may also US sanctions hurt, could invalidate the Deutsche Bank, however, such as several with the process, people familiar said.

in 2015, had declared the chief Executive officer, John Cryan, the Deutsche Bank was in the Russia affair, “vulnerable”. At the annual press conference on Thursday, he can settle now report to enforcement, which relates to his goal, the most important legal disputes quickly.

The British FCA, that is, in the case of the lead, had completed the most important part of your investigation, financial and regulatory circles, for a long time. Greater uncertainty was in the Deutsche Bank, as the relevant US authorities to review the case, according to the President of the exchange and how quickly to a conclusion.


No comments:

Post a Comment