Global Investigations Review - The law and practice of international investigations

Deutsche Bank arm fined for failing to investigate Cyprus oil payment

By Michael Griffiths

10 September 2020

Deutsche Bank arm fined for failing to investigate Cyprus oil payment Deutsche Bank in Frankfurt (Credit: iStock.com/AM-C )

The US Treasury Department has penalised a New York-based arm of Deutsche Bank after senior managers in its anti-financial crime team rushed through a $28.8 million transaction without adequately checking if it violated sanctions.