The American Central Bank takes on, according to the news Agency Bloomberg, the German Bank, because of their role in the money laundering scandal and the Danske Bank in its sights. The Federal Reserve’s test of whether the American branch of the largest German Bank controlled by managed assets of the in the center of the determination of the Estonian Danske division correctly, according to Bloomberg.
The investigation was still at an early stage. A spokeswoman for the German Bank did not comment on the information, according to the report, the Fed had no comment.
suspicion too late?
In the Estonian branch of Danske Bank 200 billion euros have been washed. The largest German institution supported them in the settlement of payment transactions. Because of Deutsche Bank’s transactions were repeated suspiciously, she finished in 2015, the business relationship with the Estonian Danske branch.
This raises a number of questions: Was the step too late? Should have noticed the fact the Deutsche Bank employees earlier? The internal controls were adequate? Deutsche Bank-Vice the Karl of pipe had been told of the “F. A. Z.” in December: “A correspondent Bank has the duty to examine the transactions in terms of sanctions and suspicions of money laundering or the financing of terrorism. This information is available to us but only to a very limited”.
The main responsibility of carrying the house Bank. “Danske Bank has a duty to know their customers because it maintains the direct contact. Denmark is in the EU, Estonia adopted the Euro; since we must be able to assume that the Bank is run in accordance with reasonable Standards and the regulatory requirements,” said pipe. At the end of last year, there had been reports that the German Bank could be more deeply involved in the scandal than previously thought.
Fortune
For Deutsche Bank, the reports about the possible deeper involvement in the Danske scandal came at the worst possible time, since the end of November, investigators in another case, in a sensational RAID had the Deutsche Bank Headquarters searched. Our employees have helped customers, letter-box firms in tax havens and to wash in this way, money from crime, the suspicion of the investigators.
Chairman of the Board Christian Sewing had said last week at the new year reception of the Bank in Berlin: “In both cases we had worked on the operations, long before they came to the Public”. In the case of Danske Bank, you have brought a further internal investigation. On the stock exchange the reports and the RAID resulted in massive exchange rate losses – the confidence of investors that the Bank gets a grip on its problems, declined. The share price fell at the end of last year to a record low of 6,678 euros.
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in the Meantime the paper again, but with 7,86 Euro is still about a third less than the office of Sewings in the past year. Sewing had to be replaced in April, the hapless John Cryan at the top of the Bank and is regarded as the last hope for the Supervisory Board chief Paul Achleitner. This has changed in his almost six years at the helm of the Supervisory Board twice already, the group’s management. Him have not managed to stabilize the Bank. Since its inauguration, the share price fell by around two-thirds – even more of a no-confidence can look like vote of the investors.
