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Deutsche Bank fined US$150 million for relationship with Jeffrey Epstein

Deutsche Bank has been hit with a US$150 million fine for failing to properly monitor its relationship with convicted sex offender Jeffrey Epstein.
 
New York state regulators said the bank had suffered significant compliance failures, processing hundreds of transactions for the late financier.
 
Those included payments to Russian models and $800,000 in suspicious cash withdrawals.
 
Deutsche said it deeply regretted its relationship with Epstein.
 
It said it had spent almost $1 billion to improve its training and controls and expand its anti-financial crime team to more than 1,500 people.


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