Deutsche Bank denies report it prevented Trump transactions being flagged
FRANKFURT (Reuters) - Deutsche Bank denied a report that said some of its executives rejected the advice of the bank's own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, being filed with the government. 'At no time was an investigator prevented from escalating activity identified as potentially suspicious
FRANKFURT (Reuters) - Deutsche Bank denied a report that said some of its executives rejected the advice of the bank's own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, being filed with the government.
"At no time was an investigator prevented from escalating activity identified as potentially suspicious. Furthermore, suggestion that anyone was reassigned or fired in an effort to quash concerns relating to any client is categorically false," Deutsche Bank said in a statement on Monday.
Citing five current and former Deutsche Bank employees, the New York Times reported on Sunday that the transactions, some of which involved Trump's now-defunct foundation, set off alerts in a computer system designed to detect illicit activity.
Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes, according to the newspaper.
Deutsche Bank were down 1.5% in pre-market trading in Frankfurt.
(Reporting by Arno Schuetze and Tom Sims, editing by Riham Alkousaa)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.