US congressional probe finds possible failures in Deutsche Bank controls with Russian oligarchs: report

US congressional probe finds possible failures in Deutsche Bank controls with Russian oligarchs: report
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Investigators with the House Financial Services Committee have reportedly found possible failures by Deutsche Bank in its money laundering controls concerning the bank's dealings with Russian oligarchs.

Reuters reported Friday that a source familiar with the committee's investigation into the bank used by President TrumpDonald John TrumpMarine unit in Florida reportedly pushing to hold annual ball at Trump property Giuliani clashes with CNN's Cuomo, calls him a 'sellout' and the 'enemy' Giuliani says 'of course' he asked Ukraine to look into Biden seconds after denying it MORE in the past say the committee found that the bank may have been involved in transfers of illegal cash to the U.S., where the bank processes transactions for other companies.

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Two other sources reportedly told the news service that the committee has found instances where concerns about transactions involving the bank's Russian clients as well as the registration of new Russian clients were ignored by the bank's managers after being raised by employees.

A spokesman for the bank declined to comment on the investigation to Reuters, while maintaining that the bank was happy to comply with the House probe.

“We have worked to address them, taken disciplinary measures with regards to certain individuals and reviewed our client onboarding and monitoring processes," the spokesman said, referring to past issues with the bank's monetary controls.

Lawmakers with the House committee subpoenaed the bank earlier this year for any documents detailing “any financial relationship, transactions, or ties” between the president, his family, and his business entities and “any foreign individual, entity, or government."

The bank revealed earlier this week that it has some tax returns related to the president's business dealings, a revelation that Democrats hope could lead to obtaining the president's tax returns in part for public release.