U.S. federal authorities are probing to trace and map the flow of illicit funds through the U.S. financial system.
According to a report from the New York Times which cites 7 sources familiar with an enquiry, U.S. federal authorities are investigating Deutsche Bank AG’s compliance on money laundering laws and other serious financial crimes.
The investigation by federal authorities includes a review of the German bank’s handling of suspicious activity reports that its employees prepared about possibly problematic transactions, including ones linked to U.S. President Donald Trump’s son-in-law and senior adviser, Jared Kushner.
According to the report, the investigation is one element of several separate but overlapping government probes into the flow of illicit funds through the U.S. financial system. Several other banks are also being investigated in this regard.
Incidentally, earlier this month, a group of U.S. Senate Democrats had urged the Federal Reserve to investigate Deutsche Bank’s relationship with Trump and Kushner.
Deutsche Bank’s spokesperson stated, “We remain committed to cooperating with authorized investigations.”