Deutsche Bank Found `Systemic' Failure in Russia Cash Flight

  • Internal report outlines year of red flags over Moscow trades
  • Warnings from Cyprus, Moscow seen bogging down in London

Deutsche Bank Finds 'Systemic' Fail in Internal Controls

Red flags started popping up inside Deutsche Bank AG in early 2014 about billions of dollars in suspect trades from Moscow. A Cypriot bank sent a query to London. Russia’s central bank raised questions. Moscow back-office staffers compiled a list of dubious transactions.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.