the Scandal surrounding the Russian subsidiary of Deutsche Bank, erupted in may 2015, ended today with the achievement of the regulators of two countries — US and UK agreements with the Bank on the termination of the investigation in exchange for the payment of the fine. First, it became known that for the help rich Russian clients in money laundering, a German Bank will be fined by the Department of financial services of the state of new York for $ 425 million And then its decision was announced and the Office of financial regulation and supervision in the UK assigned the penalty of £163 million ($ 204 million). The Bank also focus on the discounts received upon the payment of a fine.
Financial regulators, the US and the UK fined Deutsche Bank because Deutsche Bank failed to prevent money laundering through its Moscow subsidiary. In total the company will have to pay the authorities of the two countries is approximately $ 630 million.
the Regulators found that between 2011 and 2015 OOO “Deutsche Bank” participated in the illegal “mirror transactions”, which were withdrawn from Russia about $ 10 billion, “Acting through the office of the Bank in Moscow, some companies that were clients of the Moscow branch, gave orders for the purchase of Russian “blue chips” (the most liquid stocks.— the "b"), always paying for transactions in rubles. Shortly after, and sometimes on the same day associated with Bank side sold the same shares via the branch of Deutsche Bank in London for pounds sterling and dollars,”— said in a statement, the Management of financial services of the state of new York (DFS).
First about the “Russian case” Deutsche Bank in may 2015, reported the German publication Manager Magazin. Then it was noted that the fraudulent scheme for money laundering was as follows: first there were OTC purchase transaction of derivatives, which a few seconds were sold on the London OTC market. Thus, roubles were transferred in pounds sterling, and the transaction is outside the exchanges allow to avoid the usual exchange procedures for transparency. According to the British regulator, the money went from the accounts of the Moscow branch in the UK, and then on the accounts of foreign banks, which were located including in Estonia, Latvia and Cyprus. In the course of its investigation, the DFS found that the Bank had the ability to detect, investigate and prevent job scams, where attackers used over the years, but the company’s management so nothing for it and did not. In the end, the American regulator decided to charge the German Bank’s $ 425 million, in respect of which also it is still a criminal investigation from the U.S. Department of justice. However, as informs Agency Bloomberg, the investigation by the U.S. justice Department, continues.
Later on the imposition of a fine in the amount of $ 204 million was reported by the Office of financial management and control (FCA) in the UK. “Financial crime is a threat to the financial system of the UK. Deutsche Bank was obliged to create and maintain an effective control system against money laundering— presented in the statement of the words of the head of Department of control of the FCA for compliance with legal standards in the market Brand Steward.— Failing to do so, Deutsche Bank put himself at risk to be used to commit financial crimes and have left the financial system in the UK is protected from the threat of financial crimes”. According to the British regulator, from April 2012 to October 2014, the Russian “daughter” of Deutsche Bank participated in 5.8 million illicit transactions.
we also Recall that in December the illegal activities on the part of LLC “Deutsche Bank” following the results of its own investigation and acknowledged the Central Bank of the Russian Federation. The Bank of Russia established facts of manipulation with the participation of the Manager of Deutsche Bank “blue chips” of the seven largest Russian companies and banks. “This liquid paper: Gazprom, VTB, Norilsk Nickel, LUKOIL, Magnit, Sberbank (ordinary and preference) and “Rosneft:”,— said the head of the main Department of the Bank of Russia to combat unfair practices in the open market, Valery Lyakh. Then the Bank of Russia said that the report on the results of verification will be forwarded to law enforcement agencies. The “Deutsche Bank” has been fined in Russia in December 2015 to 300 thousand rubles for violation of rules of internal control, approved by the Moscow office.
Russian a press-service Deutsche Bank asked to comment on the latest developments sent the "b" text of the official statement of the Bank which, inter alia, States that Deutsche Bank failed to obtain in new York a 30% discount for agreeing to reach agreement at an early stage of the investigation.
Deutsche Bank fined in the US for $ 12.5 million.
American regulators have fined the local unit of Deutsche Bank to $ 12.5 million for the transfer of confidential information through the internal speaker. The authorities found out that in this way the information could get not only employees who are not eligible to access it, but also customers. Read more
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