London Daily

Focus on the big picture.
Monday, Feb 02, 2026

Deutsche Bank took years to flag suspect Danske money flows

Deutsche Bank took years to flag suspect Danske money flows

Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske.

Deutsche sent alerts about the suspect money flows involving the Danish bank to Germany’s money laundering data authority and state prosecutors, the person said, prompting investigators to seek more information from Deutsche.

Prosecutors are now investigating whether staff or management at Deutsche sanctioned the transactions, and whether they subsequently tried to cover them up, the person said, speaking on condition of anonymity.

Deutsche did not comment on the time taken to flag the transactions to authorities, which has previously not been reported, but said it ended its relationship with Danske in 2015 and had strengthened its anti-money laundering controls.

Danske Bank was ejected from Estonia this year after admitting 200 billion euros ($220 billion) of suspicious money flowed through its branch there between 2007 and 2015.

Deutsche was dragged into the scandal because it processed the bulk of the transactions for the Danish bank, leading German prosecutors to visit Deutsche’s headquarters last month with police and a search warrant.

Asked about the case, Deutsche said in an emailed statement that it “remains committed to providing appropriate information to all authorized investigations.”

“We have considerably increased staff numbers in Anti-Financial Crime and more than tripled our staff since 2015. We invested since 2016 700 million euros in upgrading our key control functions there.”

Following the information from Deutsche, German prosecutors visited their counterparts in Estonia in recent weeks to investigate the suspect money flows further, the person said.

Prosecutors are now investigating a small fraction of the 1.1 million transfers flagged by Deutsche, involving Russia and former Soviet states in 2014 and 2015, the person added.

If investigators find that Deutsche staff or management sanctioned and covered up its involvement in the suspicious transactions, those bankers or the group itself could face criminal prosecution, the person said.

That would deal another blow to Deutsche’s reputation and a setback to Chief Executive Christian Sewing’s drive to turn around Germany’s biggest lender.


INVESTIGATIONS

Once Germany’s flagship bank on Wall Street, Deutsche has been shrinking to try to return to sustainable profitability and has been hit by a string of penalties, including a $7.2 billion fine in 2017 for selling toxic U.S. mortgages before the financial crash.

Now, it faces a series of investigations, including one over sham trades to move hundreds of billions of roubles out of Russia, as it struggles to regain the trust of investors, staff and politicians in Germany.

Deutsche is one of a number of large international banks to become embroiled in a money laundering scandal in the Baltics, former Soviet satellite states on the edge of Europe that often acted as a staging post for money leaving Russia for the west.

A spokesman for Deutsche said it ended the relationship with Danske in 2015 after identifying “an increase in suspicious transactions from Danske clients over an extended period of time.”

But it is unclear why Deutsche did not report the suspicious fund transfers until earlier this year.

Germany’s Financial Intelligence Unit, which gathers the so-called suspicious activity reports, declined to comment.

A person familiar with the matter said the time taken to report the transactions was unlikely to lead to a penalty from German financial regulator BaFin because Deutsche’s role as a so-called correspondent bank was secondary to Danske.

Newsletter

Related Articles

0:00
0:00
Close
Starmer Arrives in Shanghai to Promote British Trade and Investment
Harry Styles, Anthony Joshua and Premier League Stars Among UK’s Top Taxpayers
New Epstein Files Include Images of Former Prince Andrew Kneeling Over Unidentified Woman
Starmer Urges Former Prince Andrew to Testify Before US Congress About Epstein Ties
Starmer Extends Invitation to Japan’s Prime Minister After Strategic Tokyo Talks
Skupski and Harrison Clinch Australian Open Men’s Doubles Title in Melbourne
DOJ Unveils Millions of Epstein Files, Fueling Global Scrutiny of Elite Networks
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
China Lifts Sanctions on British MPs and Peers After Starmer Xi Talks in Beijing
Trump Nominates Kevin Warsh as Fed Chair to Reorient U.S. Monetary Policy Toward Pro-Growth Interest Rates
AstraZeneca Announces £11bn China Investment After Scaling Back UK Expansion Plans
Starmer and Xi Forge Warming UK-China Ties in Beijing Amid Strategic Reset
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Markets Jolt as AI Spending, US Policy Shifts, and Global Security Moves Drive New Volatility
U.S. Signals Potential Decertification of Canadian Aircraft as Bilateral Tensions Escalate
Former South Korean First Lady Kim Keon Hee Sentenced to 20 Months for Bribery
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
China Executes 11 Members of the Ming Clan in Cross-Border Scam Case Linked to Myanmar’s Lawkai
Trump Administration Officials Held Talks With Group Advocating Alberta’s Independence
Starmer Signals UK Push for a More ‘Sophisticated’ Relationship With China in Talks With Xi
Shopping Chatbots Move From Advice to Checkout as Walmart Pushes Faster Than Amazon
Starmer Seeks Economic Gains From China Visit While Navigating US Diplomatic Sensitivities
Starmer Says China Visit Will Deliver Economic Benefits as He Prepares to Meet Xi Jinping
UK Prime Minister Starmer Arrives in China to Bolster Trade and Warn Firms of Strategic Opportunities
The AI Hiring Doom Loop — Algorithmic Recruiting Filters Out Top Talent and Rewards Average or Fake Candidates
Amazon to Cut 16,000 Corporate Jobs After Earlier 14,000 Reduction, Citing Streamlining and AI Investment
Federal Reserve Holds Interest Rate at 3.75% as Powell Faces DOJ Criminal Investigation During 2026 Decision
Putin’s Four-Year Ukraine Invasion Cost: Russia’s Mass Casualty Attrition and the Donbas Security-Guarantee Tradeoff
Wall Street Bets on Strong US Growth and Currency Moves as Dollar Slips After Trump Comments
UK Prime Minister Traveled to China Using Temporary Phones and Laptops to Limit Espionage Risks
Google’s $68 Million Voice Assistant Settlement Exposes Incentives That Reward Over-Collection
Kim Kardashian Admits Faking Paparazzi Visit to Britney Spears for Fame in Early 2000s
UPS to Cut 30,000 More Jobs by 2026 Amid Shift to High-Margin Deliveries
France Plans to Replace Teams and Zoom Across Government With Homegrown Visio by 2027
Trump Removes Minneapolis Deportation Operation Commander After Fatal Shooting of Protester
Iran’s Elite Wealth Abroad and Sanctions Leakage: How Offshore Luxury Sustains Regime Resilience
U.S. Central Command Announces Regional Air Exercise as Iran Unveils Drone Carrier Footage
Four Arrested in Andhra Pradesh Over Alleged HIV-Contaminated Injection Attack on Doctor
Hot Drinks, Hidden Particles: How Disposable Cups Quietly Increase Microplastic Exposure
UK Banks Pledge £11 Billion Lending Package to Help Firms Expand Overseas
Suella Braverman Defects to Reform UK, Accusing Conservatives of Betrayal on Core Policies
Melania Trump Documentary Sees Limited Box Office Traction in UK Cinemas
Meta and EssilorLuxottica Ray-Ban Smart Glasses and the Non-Consensual Public Recording Economy
WhatsApp Develops New Meta AI Features to Enhance User Control
Germany Considers Gold Reserves Amidst Rising Tensions with the U.S.
Michael Schumacher Shows Significant Improvement in Health Status
Greenland’s NATO Stress Test: Coercion, Credibility, and the New Arctic Bargaining Game
Diego Garcia and the Chagos Dispute: When Decolonization Collides With Alliance Power
Trump Claims “Total” U.S. Access to Greenland as NATO Weighs Arctic Basing Rights and Deterrence
Air France and KLM Suspend Multiple Middle East Routes as Regional Tensions Disrupt Aviation
×