Deutsche Bank will pay a fine of $425 million in the case of money laundering in Russia – Kommersant

Deutsche Bank to pay $ 425 million fine to the financial regulator of new York (NYSDFS) for holding a “mirror transactions” in Russia in 2011-2015. According to the regulator, the money laundering, the German Bank has contributed to the withdrawal of $ 10 billion from Russia in violation of the laws of new York. “Through the Bank’s office 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 sh ares via the branch of Deutsche Bank in London for pounds sterling and dollars,”— said the NYSDFS.

the Financial regulator notes that buyers and sellers of shares, “has always been closely associated”, they often were among the beneficiaries, management or agents. “The Bank carries out its activities in an unsafe and unreasonable manner and is unable to maintain the effectiveness of the program to combat money laundering,” stated the NYSDFS. The regulator also ruled that Deutsche Bank failed to assess country and customer risks of money laundering. In addition, the German Bank is about to be fined approximately $ 200 million because of “suspicious transactions” in the UK.

In December, the Central Bank established the fact of manipulation with the participation of the Manager of Deutsche Bank “blue chips” of the seven largest Russian companies and banks: Gazprom, VTB, Norilsk Nickel, LUKOIL, Magnit, Sberbank and Rosneft.

In August, The New Yorker reported that the Moscow office of Deutsche Bank held a “mirror transaction” in favour of people from Chechnya “with ties to the Kremlin.” The publication claimed that these transactions were carried out in order “to expatriate the money”: the Russian and offshore companies owned by the same person, so the operation, which at first glance seemed ordinary, was intended to “transform” the ruble is hidden outside Russia dollars.

in the past year, the media reported that the Federal financial Supervisory authority Germany found no evidence that the Russian division of Deutsche Bank was involved in money laundering.

About the investigation into the activities of the German Bank, read in the material “Kommersant” “Deutsche Bank will cease to suspect money laundering in Russia.”