Washington — Anti-money laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving entities controlled by US President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial crimes watchdog, the New York Times reported on Sunday.
Trump rejected the report in a blast of early-morning tweets on Monday, saying he had little need for banks because he had so much cash on hand, and denied that the money came from Russia. Compliance staff members who reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the treasury department that polices financial crimes, according to the newspaper.“At no time was an investigator prevented from escalating activity identified as potentially suspicious,” the bank said. Furthermore, the suggestion that anyone was reassigned or fired in an effort to quash concerns relating to any client is categorically false.
One employee who reviewed some of the transactions said her employment was terminated in 2018 after she raised concerns about the bank’s practices, the Times reported.“We have no knowledge of any ‘flagged’ transactions with Deutsche Bank. In fact, we have no operating accounts with Deutsche Bank,” she said.
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