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Deutsche Bank Confirms Internal Probe Over Money Laundering Scandal

M. Corey Goldman

has launched a second internal investigation into its role in a money laundering scandal uncovered at an Estonian branch of Danske Bank, the company's CEO said. Speaking to policymakers and clients at an event in Berlin, Deutsche Bank CEO Christian Sewing confirmed the internal probe, noting that "we do have a big interest in continuing to get to the bottom [of both cases]. According to the Financial Times and other media reports, between 2007 and 2015 Deutsche Bank acted as a correspondent bank for Danske's Estonian branch, which is suspected of laundering €200 billion from former Soviet states.