DEUTSCHE BANK SANCTIONED IN CONNECTION WITH JEFFREY EPSTEIN BANKING RELATIONSHIP
July 9, 2020 Matthew Levine
The New York Department of Financial Services (“NYDFS”) recently sanctioned Deutsche Bank (“DB”) $150 million for BSA/AML deficiencies. According to the regulator’s factual findings, the compliance failures arose in connection with the bank’s private wealth relationship with Jeffrey Epstein, and correspondent banking relationships with Danske Bank Estonia (“Danske Estonia”) and FBME Bank (“FBME”), both located in Eastern Europe.
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