New York’s state Department of Financial Services slapped Deutsche Bank with a $150 million fine for failing to detect suspicious transactions conducted by sex offender Jeffrey Epstein.
“With respect to the case of Jeffrey Epstein, the Bank failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample information that was publicly available concerning the circumstances surrounding Mr. Epstein’s earlier criminal misconduct. The result was that the Bank processed hundreds of transactions totaling millions of dollars that, at the very least, should have prompted additional scrutiny in light of Mr. Epstein’s history,” the department said in a press release on Tuesday.
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