A German public prosecutor levied a €13.5 million (U.S. $15.9 million) fine against Deutsche Bank on Tuesday for failing to report over 600 suspicious transactions in a timely manner but dropped a wider investigation into suspicious transactions from Russia that originated from fellow European financial institution Danske Bank.
The Frankfurt Prosecutor’s Office announcement was connected to the Danske Bank money laundering scandal that saw €200 billion in tainted money flow through Danske’s Estonian subsidiary. German investigators were apparently interested to learn how much of that money was flowing through Deutsche Bank and whether Deutsche alerted authorities soon enough about the suspicious transactions.
