Skip to content

Deutsche Bank Settles Money-Laundering Case for $7.1 Million

  • Investigation looked into transactions linked to Assad family
  • Frankfurt prosecutors found 701 cases of failed reports
Updated on

Deutsche Bank AG settled a probe by Frankfurt prosecutors looking into whether the bank violated money-laundering prevention rules for 7.01 million euros ($7.1 million).

The bank agreed to pay the amount and accepted an administrative penalty notice, the lender said in a statement. Frankfurt prosecutors confirmed the end of the investigation, which found the bank failed to file 701 reports of suspicious activities. Deutsche Bank acted “thoughtlessly,” they said.