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Deutsche Bank under investigation for compliance with the Money Laundering Act: Report



There seems to be more trouble brewing for Deutsche Bank in connection with reports, it is the subject of another investigation.

The federal authorities are investigating whether the bank complied with rules to stop money laundering and other crimes, The New York Times reported on Wednesday, referring to several people familiar with the query.

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The probe covers how the bank handled reports of suspicious activity ̵

1; including potentially problematic transactions – some of which are linked to President Trump's son-in-law and senior advisor Jared Kushner.

A spokesman for Deutsche Bank refused to comment on the report, but told FOX Business that it was obliged to cooperate with authorized investigations.

A whistle blower previously told the Times that she had marked suspicious money transfers between Kushner's family business and individuals in Russia in 2016. The whistleblower said Deutsche Bank mana Gers decided not to file the suspicious activity report she prepared for the Treasury Department's financial crime department. According to The Times, other suspicious activity reports are also not required – some relate to transactions involving Trump's legal entities.

Several other banks are also said to be investigated as part of a larger probe towards illegal funds passing through the financial system.

Meanwhile, the bank is a central point in separate congressional investigations, looking at the relationship between Trump, his family and his businesses. House Democrats hope to get more information on Trump's economic affairs, potential relations with Russia, and to explore possible links to interference in US elections.

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The President convened to block Deutsche Bank and Capitol One from complying with requests for summons to reverse his financial and business records. After a judge knocked down the request, the President's lawyers were expected to appeal.

Democrats also request Trump's accounts from the IRS. Treasury Department, under Secretary Steven Mnuchin, has so far failed to comply.


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