Featured Germany

Diplomats: Europeans weigh sanctions on Venezuela’s Maduro

AP — Major European nations are considering imposing sanctions on Venezuela’s Nicolás Maduro and several top officials for their recent crackdown on political opponents, although divisions remain over the timing of any action for fear of derailing a negotiated exit to the country’s crisis, The Associated Press has learned. The… Read More

U.S. senator introduces bill to sanction Russia-to-Germany gas pipeline

U.S. Senator John Barrasso introduced a bill on Thursday to slap sanctions on individuals and companies developing Russia’s Nord Stream 2 natural gas pipeline project, a day after his fellow Republican, President Donald Trump, said he was considering sanctions on the pipeline. Barrasso’s Energy Security Cooperation with Allied Partners in… Read More

Deutsche Warns Corporate Clients of Potential Account Closures: Report

Deutsche Bank has notified nearly 1,000 blue-chip companies that it will terminate their corporate accounts within weeks if they do not send documents verifying their identities, the Financial Times reported Tuesday. The lender issued the termination letters as part of a broader effort to shore up its anti-money laundering (AML) controls… Read More
12th June 2019
Deutsche Bank has identified serious failures in its screening of cheques and high-value electronic payments for anti-money laundering (AML) and sanctions compliance purposes, the lender told the Financial Times. The lapses, which went undetected for years and were discovered as the result of an internal audit, include a “filtering gap”… Read More
7th June 2019
A group of U.S. Senate Democrats is urging the Federal Reserve to investigate Deutsche Bank AG’s relationship with President Donald Trump and his son-in-law and adviser Jared Kushner. The lawmakers, led by Senators Chris Van Hollen and Sherrod Brown, the senior Democrat on the Senate Banking Committee, said news reports… Read More
7th June 2019
German prosecutors have extended an investigation into a tax-stripping scheme, with around 70 current and former executives of Deutsche Bank now being treated as suspects, the Sueddeutsche Zeitung reported on Thursday. Among those suspected by the Cologne prosecutor’s office is Garth Ritchie, the head of Deutsche’s investment banking arm, the… Read More
26th May 2019
It seems a safe bet that, at some point in the last few days, more than one Deutsche Bank employee has made use of a well-worn but often apt observation about rain and how it sometimes pours. The German lender’s week began with a bombshell report by The… Read More
23rd May 2019
Germany’s financial markets watchdog (BaFin) ordered the fintech N26 Bank on Wednesday to step up controls to ensure it is better protected against money laundering. In March the online bank, launched in 2013, made negative headlines when German newspapers reported that a customer’s account had been hacked and emptied of… Read More
20th May 2019
Deutsche Bank managers blocked the filing of multiple suspicious activity reports (SARs) on transactions involving President Donald Trump, his son-in-law Jared Kushner and offshore parties, The New York Times reported Sunday. In the summer of 2016, the German institution’s transaction monitoring software flagged a series of suspicious payments from Kushner’s real estate… Read More
17th May 2019
Frankfurt public prosecutors said they led a nationwide raid on eight homes and 11 banks on Wednesday as part of an investigation into wealthy individuals suspected of tax evasion. The action was a follow-up on a police raid last November of Deutsche Bank over money laundering allegations linked to the… Read More
15th May 2019
A group of Republican and Democratic U.S. senators introduced legislation on Tuesday seeking sanctions targeting the Nord Stream 2, a planned gas pipeline from Russia to Germany under fire from the United States and some European Union countries. The bill introduced by Republican Senators Ted Cruz, John Barrasso and Tom… Read More
9th May 2019
Deutsche Bank faces a possible public rebuke from shareholders after two influential investor advisory groups urged them to issue a vote of no confidence in the lender’s management. In a highly critical report, U.S. proxy advisor Institutional Shareholder Services (ISS) said it recommended investors do not ratify management’s work last… Read More
8th May 2019
The United States said on Tuesday that European powers are unlikely to live up to a pledge to prevent their conduit for trade with Iran being used to launder money or finance terrorism, raising the prospect of further U.S. sanctions. France, Britain and Germany have set up the special purpose… Read More