Deutsche Bank’s Answers on Scandal Leave European Lawmakers Frustrated
- Bank, in rare hearing, defends role in money laundering case
- Lawmakers say they’re unhappy with lack of details given
The Deutsche Bank headquarters in Frankfurt.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Deutsche Bank AG defended its role in one of Europe’s biggest money-laundering scandals in a rare hearing before European lawmakers that highlighted increasing frustration with the lender and its German supervisor.
Called before the European Parliament after Deutsche Bank was once again tied to a number scandals late last year, Stephan Wilken, head of its anti-financial crime unit, on Monday night insisted the firm was serious about cleaning up its act. He reiterated that as a correspondent bank for Danske Bank A/S, the lender at the center of the money laundering case, Deutsche Bank had no role in vetting clients.