A us agency announced on Tuesday they have imposed a fine of $ 150 million to Deutsche Bank for not having been sufficiently vigilant in its dealings with Jeffrey Epstein, accused of sexually exploited underage girls before committing suicide in August 2019.
The regulator of financial services of the State of New York (DFS) accuses the financial institution to have approved hundreds of transactions involving millions of dollars that should have been, given the reputation of the financial sector in new york, to attract his attention.
“The banks are the first line of defense when it comes to preventing crime through the financial system, and it is crucial that banks adapt the monitoring of the activity of their clients based on the types of risks that are posed by a particular client,” said Linda Lacewell, head of the DFS.
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“In the case of Jeffrey Epstein, although knowing [his] terrible criminal history, it is inexcusable that the bank is not able to detect or prevent millions of dollars of suspicious transactions”, she added.