BERLIN Oct 6 German financial watchdog Bafin
has found no evidence to date that Deutsche Bank has
violated rules on money laundering in Russia, people close to
matter said on Thursday.
Regulators in Russia, Europe and the United States are
investigating Deutsche Bank over so-called "mirror trades",
which may have allowed clients to move money from one country to
another in 2014 without alerting authorities. Those trades could
potentially have allowed clients to breach Western sanctions on
Russia over the Ukraine conflict.
Bafin is coming to the end of its investigations of the
matter in relation to Deutsche Bank and may impose no other
demands besides asking the bank to improve its risk management,
the sources said.
The view of authorities in other countries is not yet known.
Deutsche Bank and Bafin declined to comment.
Sueddeutsche Zeitung reported earlier on Thursday that Bafin
was to finalise the probe shortly.
Deutsche Bank earlier this year raised its provisions for a
potential settlement in the suspicious share trading case in
Russia, which has prompted the bank to partially pull back from
The case is one of many regulatory headaches that has thrown
Germany's largest bank into crisis.
Last month, the U.S. Department of Justice (DOJ) demanded up
to $14 billion to settle claims that Deutsche mis-sold U.S.
mortgage-backed securities before the financial crisis.
(Reporting by Arno Schuetze and Kathrin Jones; Writing by
Andreas Cremer. Editing by Jane Merriman)