US probe finds lapses in Deutsche Bank’s money-laundering controls

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September 6 2019

US congressional investigators have identified possible failures in Deutsche Bank’s money-laundering controls in its dealings with Russian oligarchs, after the lender handed over a trove of transaction records, e-mails and other documents, three people familiar with the matter said.

The congressional inquiry found instances where Deutsche Bank staff in the United States and elsewhere flagged concerns about new Russian clients and transactions involving existing ones, but were ignored by managers, two of the people said.