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Deutsche Bank dismissed employees' concerns about Trump transactions: report

Mike Murphy

Deutsche Bank AG executives rejected alerts from internal anti-money-laundering specialists who raised concerns about transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, the New York Times reported Sunday, citing five current and former bank employees. The transactions in 2016 and 2017 set off automated alerts of possible illicit activity, the Times said, and Deutsche Bank compliance employees prepared suspicious activity reports that they believed should be sent on to the Treasury Department. Bank executives rejected the recommendations and the reports were never filed, the Times reported. It was unclear what transactions raised suspicions, but The Times noted that sometimes banks do not file suspicious activity reports if they find the concerns are unwarranted. Some Deutsche Bank employees told the Times the incident reflected a lax corporate attitude toward anti-money-laundering laws. Last month, Trump sued Deutsche Bank to prevent it from turning over financial documents to congressional investigators.