Deutsche offered correspondent banking companies through its US subsidiary. Deutsche Bank says it has “decreased its footprint” throughout the submit-Soviet area. It not has relationships with any banks in Moldova, Latvia, Estonia and Cyprus, the report says. All are favorite locations for illicit Moscow cash. The bank has scaled down its enterprise actions in Russia and Ukraine, it says.
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The money concerned may total $80bn, detectives consider. The financial institution admits there is a high risk that regulators in the US and UK will take “vital disciplinary motion” against it. Deutsche concedes that the scandal has harm its “international model” – and is likely to trigger “client attrition”, loss of investor confidence and a decline in its market worth.
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