German financial markets regulator BaFin on Wednesday, 9 March, started checking Deutsche Bank (Russian subsidiary Deustch Bank AG). This was told by a banker familiar with the situation, and was confirmed by a source in one of banks-counterparties of Deutsche Bank.
“The inspection is related to the investigation into the Moscow office, whose clients conducted questionable transactions,” says a banker familiar with the situation. Before you start checking, the staff of BaFin received the consent of the Central Bank, which need to transfer obtained during the inspection abroad.
The official representative of Deutsche Bank does not comment on the inspection. The press service of the Central Bank recalled that the existing banks would not comment. awaiting response from BaFin.
Reports that Deutsche Bank began an internal investigation in respect of its Moscow office, appeared in the media this spring. According to the German publication Manager Magazin, Deutsche Bank staff have not properly checked the origin of the money of Russian clients, who carried out OTC transactions in derivatives in London. We can talk about withdrawal of about $6 billion in 2011-2015. In December last year by Bloomberg, citing its sources reported that Deutsche Bank had identified an additional $4 billion in suspicious transactions related to the Russian business of this financial institution. Thus, the total amount of transactions that were not properly checked, had reached $10 billion.
Deutsche Bank said Western regulators on violations, and attracted to the investigation of experts from London and new York. In the investigation involved the German, British and American regulators.