Deutsche Bank probed by UK regulator for ‘laundering Russian cash’
Britain’s Financial Conduct Authority (FCA) has begun an investigation into whether Deutsche Bank breached anti money laundering laws for its Moscow clients, it has emerged.
The Financial Times reports the inquiry focuses on the bank’s so-called mirror trades executed in London and Moscow.
Deutsche Bank reported the matter itself to the FCA and Germany’s financial watchdog, BaFin.
The investment bank remains under “special measures” instigated by the FCA after several allegations of regulatory breaches.
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