MOSCOW, 26 Jan. The U.S. Department of justice and the Office of financial services of new York extend the scope of the inspection activities of the Moscow Department of the largest German Bank Deutsche Bank, writes the Financial Times citing informed sources.
Now, along with the investigation into possible money laundering Department of the Bank in Moscow, US authorities are checking for possible violations of the sanctions, the newspaper notes.
As stated, U.S. authorities are expanding an investigation in connection with the fact that in some analyzed during the investigation of the transactions allegedly involved a U.S. citizen, it is also assumed that these transactions involved the US dollar.
The subject of the investigation is a series of so-called “mirror trades”, in which the Russian Bank’s customers bought securities in rubles through Moscow office of Deutsche Bank, and then sold these securities with foreign currency, including US dollars, through the Bank’s office in London.
According to newspaper sources, the Central figure of the investigation is a US citizen Tim Wiswell, who was head of Deutsche Bank in Russia and was suspended during the internal investigation.
U.S. authorities are also examining whether the Bank meets the requirements and ready-to-use program for legal compliance in connection with the sanctions against Russia and provided the Bank with reliable information to regulators. In addition, U.S. authorities are investigating, whether allowed the branch of the Bank in Russia illegally moved funds out of the country.
At the end of may, the official representative of the Bank of Fail Anke reported that Deutsche Bank has information about possible money laundering through its Moscow office and is conducting an internal investigation into the matter. The Moscow office of Deutsche Bank then has suspended several employees because of the investigation into OTC transactions with signs of money laundering.
In August it was reported that Federal prosecutors in the US are conducting an investigation in connection with transactions worth several billions of dollars that have implemented the largest German Bank, Deutsche Bank, on behalf of Russian clients for 2015.