Deutsche Bank is conducting an internal probe into possible money laundering by Russian clients that may involve about $6bn of transactions over more than four years, according to people with knowledge of the situation.
Bloomberg News reports that The Bank of Russia approached Deutsche Bank in October asking the firm to examine the stock-trading activities of some clients in the country, said one person, who asked not to be identified because the discussions are private.
Benjamin Lawsky’s Department of Financial Services in New York is looking at unusual trading activity at the firm in Russia, another person said. Deutsche Bank is analyzing data from 2011 through early 2015, and has alerted Britain’s Financial Conduct Authority, the European Central Bank and Germany’s Bafin of the investigation, two people said.
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