Deutsche Bank staff flagged multiple Trump transactions: New York Times
Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes, according to the newspaper.“At no time was an investigator prevented from escalating activity identified as potentially suspicious,” the bank said in a statement.
Investors are calling on the bank to scale back its investment bank after talks to merge with a rival failed and amid a grim profit outlook. European regulators also fear Deutsche could fail U.S. stress tests. One employee who reviewed some of the transactions said she was terminated last year after raising concerns about the bank’s practices, the Times reported.
The newspaper said a Kushner Cos spokeswoman called any allegations of relationships involving money laundering “made up and totally false.”The Times said the nature of the transactions was not clear. At least some of them involved money flowing back and forth with overseas entities or individuals, which bank employees considered suspicious.
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