Employees of the Russian subsidiary of Deutsche Bank was suspected of laundering – Vedomosti

Deutsche Bank announced that it has started an internal investigation in relation to its investment division in Russia, reports AFP. “We sent a small amount of vacation our staff in Moscow for the period until the completion of the internal audit, – quotes agency’s press release of the bank. – We reaffirm our readiness to participate in international efforts to detect and prevent suspicious transactions and we strongly react if we find evidence of improved violations. ” German media, citing unofficial sources, writing about the alleged money laundering. The head office of the bank informed the incident to the Federal Office for Financial Sector Supervision (Bafin).

The weekly Manager Magazin reported that several employees of the Russian branch of Deutsche Bank suspected of laundering large sums of funds of dubious origin, who belong to a Russian bank customers. Suspicions aroused suspicious bank transactions in the derivatives market. A few seconds after the conclusion of OTC transactions for the purchase of derivatives in Moscow, they were sold in London and on the OTC market. Thus, the ruble has been converted into pounds. Such as the use of the motif of exchange rate differences transactions are not visible. Sources Manager Magazin said that it is supposedly hundreds of millions.

Source weekly at Deutsche Bank said that “if Deutsche Bank, as usual, check the source of financial income, then this kind of operation would have never taken place” (quoted by Deutsche Welle). Now the circumstances of the incident are studying specially invited from London and New York, investigators and experts. They are working in the central office of Deutsche Bank in Frankfurt.

Bafin confirmed the AFP, that the information received from Deutsche Bank, but declined to comment.

AFP reminds that currently Deutsche Bank is involved in several proceedings in which the organization is accused of manipulating Libor rates with and Euribor, the manipulation of currency markets and in cooperation with the countries against which introduced sanctions such as Iran. In early May, the Munich prosecutor’s office accused the management of Deutsche Bank of deliberately creating a loud noise in the investigation of the bankruptcy case magnate Leo Kirch media empire. As Attorney Stefan curled Neknig bank regularly and deliberately obstructed the investigation of data transfer required. In Munich, on April 28 dock there was co-chairman of the Board Juergen Fitschen and four top managers of the bank.