Deutsche Bank Suspends Moscow Traders
Traders allegedly breached anti-money-laundering rules
Deutsche Bank AG said it has suspended several Moscow-based traders over allegedly breaching anti-money-laundering rules, adding to the list of legal woes at Germany’s largest lender.
“We have placed on leave a small number of individuals from our Moscow operation pending the final results of an internal review. We are committed to participating in international efforts to detect and combat suspicious activities and we take strong action where we find evidence of misconduct,” Deutsche Bank said Wednesday. Germany’s financial regulator BaFin said it is aware of the case but declined to comment further.
The story was reported earlier by Germany’s Manager Magazine.
Deutsche Bank is involved in more than 6,000 pending law suits world-wide. In April, the lender paid a record $2.5 billion to settle allegations it manipulated interbank lending rates. It is therefore set to face massive headwinds at its annual shareholder meeting Thursday.
Source: WSJ – Deutsche Bank Suspends Moscow Traders
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