Deutsche Bank

You may have missed this while watching the coup attempt, but Deutsche Bank settled FCPA charges last week with $130 million in penalties and disgorgement, a three-year deferred-prosecution deal, and lessons a-plenty about the perils of leaving internal control duties with operations executives in the First Line of Defense.  The settlement was announced Friday afternoon.…

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Deutsche Bank

We have a follow-up to last week’s news about Deutsche Bank and its many compliance failures that allowed convicted sex trafficker Jeffrey Epstein to remain a client for years: the New York Times has identified several executives, including one of the bank’s senior compliance officers, involved in those decisions. New York banking regulators hit Deutsche…

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Deutsche Bank

New York banking regulators hit Deutsche Bank with a $150 million penalty Tuesday for its business dealings with notorious sex trafficker Jeffrey Epstein, and painted a damning picture of compliance failures that went on for years at the bank while it reaped millions from such a lucrative customer.  The New York Department of Financial Services…

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