Deutsche Bank reportedly ignored employees' calls to report Trump transactions to federal watchdog
Transactions in 2016 and 2017 triggered automated controls at Deutsche Bank meant to catch illicit activity, and compliance workers then prepared what's known as suspicious activity reports that they believed should be sent to the Treasury, according to the Times, which cited five current and former bank employees. But the reports were never filed with the government, the article states.
The move to disregard the compliance workers' recommendation was part of a pattern at Deutsche Bank of rejecting concerns to protect relationships with valued clients, the Times said. The German bank, along with other global institutions, has been fined billions of dollars over failing to police internal transactions tied to illicit activity.
"At no time was an investigator prevented from escalating activity identified as potentially suspicious," McHugh said. Addressing allegations in the Times that employees were sidelined for bringing up their concerns, McHugh added that "the suggestion that anyone was reassigned or fired in an effort to quash concerns relating to any client is categorically false."
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