Deutsche Bank to Pay Millions in Fines for Helping Wealthy Russians Launder US$ 10 Billion

Deutsche Bank said Monday it will pay US$ 625 million to US and UK financial authorities to settle charges that it helped Russian investors launder up to US$ 10 billion. At the end of last year the bank agreed to pay US$ 7.2 billion to the US Department of Justice for selling dubious mortgage securities. This time Germany’s largest bank has agreed to pay US$ 425 million to New York’s Department of Financial Services (DFS) and 163 million pounds (US$ 202 million) to the UK’s Financial Conduct Authority (FCA) to settle money laundering allegations.

— source

All private banks are criminals.


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