The New York Department of Financial Services found that Deutsche Bank knew of Epstein’s criminal history when it took him on, then failed to scrutinize activity it should have caught: settlement payments of more than $7 million, more than $6 million to law firms, payments to Russian models and to women with Eastern European surnames, and more than $800,000 in cash withdrawals over about four years. It fined the bank $150 million over Epstein and two other matters. [1]
What the regulator found
The DFS consent order.
What we can’t tell you. A finding of compliance failure, not of knowing participation in crimes.
The sources
- New York DFS: Superintendent fines Deutsche Bank $150 million for significant compliance failures, 7 Jul 2020 ↗
The first regulatory action against a bank over Epstein, with the regulator’s findings.
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