U.S. Fed Ramps Up Scrutiny of Deutsche Bank Over $230 Billion Danske Bank Money Laundering Scandal

Ulrich Stephan Deutsche BankUlrich Stephan Deutsche Bank

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By  CCN.com: German lender Deutsche Bank is under investigation by U.S. authorities over suspicions of aiding money laundering for a correspondent bank.

According to Bloomberg, the U.S. Federal Reserve is scrutinizing how Germany’s largest banking institution handled suspicious transactions from Danish lender Danske Bank. Alongside other regulators, the Fed has a duty to ensure financial institutions under its purview follow anti-money laundering regulations.

Did Deutsche Bank Conduct Adequate Due Diligence?

Per the report, the Fed’s focus is on whether Deutsche Bank, as a correspondent bank of Danske, undertook adequate monitoring of funds transfers it performed at the request of the Danish lender.

This was specifically in relation to transactions

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