Deutsche Bank Flagged Trump, Kushner Transactions

23 Mai, 2019, 06:57 | Auteur: Anatole Charbonneau
  • Deutsche Bank staff who detected suspicious activity in Trump and Kushner bank accounts were ignored

At 1050 GMT, shares traded down 3.2 percent at 6.62 euros.

The report is significant in part because Deutsche Bank has been one of the few big banks willing to lend money to the Trump Organization in recent years.

The Senate of the University of Cape Town in South Africa has deferred a vote on a boycott of Israeli academic. The future president first developed a relation with Deutsche Bank when his numerous defaults and other financial failures made him toxic to most other financial lending institutions.

The bank also told the Times it had increased its scrutiny of potential money laundering.

The spokeswoman described as "categorically false" any suggestion that bank staff were reassigned or fired in an effort to quash concerns related to any client.

Deutsche is facing a series of headaches.

Investors are calling on the bank to scale back its investment bank after talks to merge with a rival failed and amid a grim profit outlook. European regulators also fear Deutsche could fail USA stress tests.

Bank executives rejected that advice, The Times story said.

Although the Times' report did not go into detail about the nature of the transactions, it stated that at least some of the transactions involved the now-defunct Trump Foundation and that they "set off alerts in a computer system created to detect illicit activity, according to five current and former bank employees".

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Even the Times report acknowledge flagged transactions are not necessarily improper, particularly large all-cash deals, and banks often "conclude their employees' concerns are unwarranted" as reason to opt against filing reports of suspicion on clients.

Kerrie McHugh, a Deutsche Bank spokeswoman, claimed that the bank's issues with its anti-money laundering program stem from the fact that it "requires sophisticated transaction screening technology, as well as a trained group of individuals who can analyze the alerts generated by that technology both thoroughly and efficiently".

Zabarsky added that "any allegations regarding Deutsche Bank's relationship with Kushner Companies which involved money laundering is completely made up and totally false".

Spokespeople for the Trump Organization and the Treasury Department did not immediately respond to a request for comment from CNN Business.

The nature of the transactions was not clear.

Certain dealings in 2016 and 2017, including some with entities and individuals outside the United States, set off automated alerts in the bank's systems, prompting employees to prepare "suspicious activity reports" on some of them.

President Trump hit back against a New York Times report about bank employees flagging "suspicious activity" in accounts controlled by him and his son-in-law Jared Kushner, blasting it as more fake news by a paper that will go out of business when he leaves office.

The president has sued in court in an attempt to block US House of Representatives subpoenas for his financial records that were sent to Deutsche Bank, Capital One Financial Corp and the accounting firm Mazars LLP.

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