12 Feb 2019
Deutsche Bank has sharply scaled back its role as a correspondent bank, an executive said on Monday of a business line that has dragged it into a money laundering scandal involving Danske Bank.
Deutsche Bank’s global correspondent banking portfolio is now around 40 percent smaller than it was in 2016, Stephan Wilken, its head of anti-financial crime and anti-money laundering said.
Wilken told a committee of the European Parliament that Deutsche Bank’s portfolio of correspondent banking customers it deems as high risk is around 60 percent smaller than it was in 2016.
Danske Bank is under investigation over suspicious payments totalling 200 billion euros (£175 billion) from 2007 until 2015 from its Estonia branch.
– By Tom Sims, Reuters, 4 February 2019
Link to Reuters
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