Deutsche Bank faces $150m fine for Jeffrey Epstein ties

https://www.bbc.com/news/business-53324888

Deutsche Bank has been hit with a $150m (£120m) fine for failing to properly monitor its relationship with convicted sex offender Jeffrey Epstein.

New York state regulators said the bank had suffered "significant compliance failures", processing hundreds of transactions for the late financier.

Those included payments to Russian models and $800,000 in "suspicious" cash withdrawals.

Deutsche said it "deeply" regretted its relationship with Epstein.

But Deutsche has faced multiple penalties for its compliance failures in recent years, including over its failure to stop Russian money-laundering. Its relationship with US President Donald Trump has also brought scrutiny.