Bloomberg: Deutsche Bank’s Epstein Lapses Spur $150 Million N.Y. Fine
Deutsche Bank AG will pay New York’s banking regulator $150 million for a string of compliance lapses including a half-decade of lax oversight of the financial dealings of convicted sex offender Jeffrey Epstein.New York’s Department of Financial Services provided fresh details Tuesday
In her announcement today, Superintendent of Financial Services Linda A. Lacewell said:
“In each of the cases that are being resolved today, Deutsche Bank failed to adequately monitor the activity of customers that the Bank itself deemed to be high risk. In the case of Jeffrey Epstein in particular, despite knowing Mr. Epstein’s terrible criminal history, the Bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions.”
#truth Thank you @NYGovCuomo for always leading the way beginning as NYAG. #JeffreyEpstein #DeutscheBank https://t.co/EiLg5QOWXt
— Linda Lacewell (@LindaLacewell) July 7, 2020
