The largest financial institution global Deutsche Bank (DB) is suspected of laundering dirty money from Russia. This was reported with reference to its sources in the Federal Office for the Supervision of the financial sector (Bafin) German business magazine Manager magazin.
Journal sources said the employees of the Moscow branch of Deutsche Bank carried out dubious financial transactions with Russian money to bypass the accepted international rules transparent. Using the mechanism over the counter, when the transaction on securities are directly outside of trading, German bankers bought Russian derivatives (securities of the second level), and then a few seconds later, again through over the counter, sold in London and, presumably, in NYC. Thus, the ruble almost instantly converted into pounds sterling and US dollars.
It is unknown how long a time the Moscow branch of the German bank engaged in similar operations. Although, according to sources Manager magazin, we can already say that their sum is greater than a few hundred million dollars, and this is unlikely to limit.
Bafin failureaxle comment that it intends to undertake in connection with the identified facts of money laundering. Meanwhile, London and New York branches DB already begun its own review of suspicious transactions. In Moscow, involved in the case of employees dismissed from work by sending to the investigation on vacation. Spicy detail: the investigation by the bank's management headed by board member Stefan Leitner, who oversees the European direction, including Russia, and the post was required to enforce the transparency of banking transactions.
It is noteworthy that the scandal surrounding the activities of DB happened on the eve of the annual meeting of shareholders. One would assume that the financial machinations of the Moscow branch of information specifically leaked to the press, as the board of the bank is not an easy fight for the leading positions and the future strategy of financial activities. However, the authority of the Manager magazin, included in the Spiegel-gruppe and specializes in news and analysis of the business world in Germany is very high and there is no doubt.
The matter is likely that a fresh row nopolnil series of other similar, which have already become accustomed to DB. Since the crisis of 2008-2009, the image of the most famous German financial institution is increasingly losing his name associated with a symbol of stability, reliability and guaranteed success. Because of the risk management, investment policy failure, and even outright financial fraud DB become the object of interest of the international and national supervisory authorities, as well as a target for criticism from the press.
For example, the German bank, along with Goldman Sachs and US mortgage agencies have been recognized by a special commission of the US Senate in 2008 the main culprits of the financial crisis. Pre-trial reconciliation DB cost of 202 million dollars. In the early 2010s the European Commission has convicted bank of financial fraud - a fine of almost 800 million euros. In 2013, to address the various courts DB paid 2.3 billion euros. Because of the scandalous reputation of the volume of borrowed bank funds decreased by 27%.
Promised elected in 2012 the new leadership of DB reforms to return the former glory is clearly failed. FROMovsem recently at the request of the British and American regulatory authorities had to pay $ 2.5 billion in penalties. In this situation, it was decided to reduce the retail banking business, closing 200 branches to sell Postbank child and switch to investment activities.
Among the shareholders of DB proposed rule rate has caused heated debate and criticism, reinforced by the fact that more than two thousand bank senior managers in the last year received bonuses totaling more than 2 billion euros, while the share of 600 thousand shareholders got only about one billion. So that the scandal with the Moscow branch of ripe just in time.