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UK authorities fine Deutsche Bank 204 million USD
   2017-02-01 20:06:36    CRIENGLISH.com      Web Editor: Zhang Shuai

Deutsche Bank. [File photo: china.org.cn]

British authorities have fined Deutsche Bank over 160 million pounds or about 200 million US dollars after it failed to maintain adequate anti-money laundering controls.

Mark Steward with the Financial Conduct Authority said the bank allowed its customers to transfer 10 billion dollars out of Russia "in a manner that is highly suggestive of financial crime."

"This is a terrible example of lax systems and controls where Deutsche Bank's systems were used by persons that are unknown at this point to effectively launder 10 billion dollars, US dollars, from Russia into US dollars, that we're still trying to track it down."

The fine was the largest ever imposed by British regulators for anti-money laundering violations, according to the FCA.

The New York Department of Financial Services had said the bank agreed to pay a 425 million dollar fine following its probe of the same transactions.

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