At Deutsche Bank, Anti-Money-Laundering Experts Flagged Trump’s Accounts

Photo courtesy of the Kremlin / CC BY-SA 4.0

At Deutsche Bank, anti-money-laundering experts detected suspicious activity coming from President Trump.

Deutsche Bank ignored suggestions from its own money laundering unit to report a number of Trump's transactions to the Treasury Department’s financial crimes group, according to the New York Times.

The transactions, some of which involved the transfer of substantial amounts of money between entities connected to Trump and overseas individuals and entities, set off computer alerts designed to flag illicit activities in 2016 and 2017.

Top executives at the German bank declined to alert the federal government of Trump’s activity, which was considered suspicious by a number of employees in its compliance group.

Trump had strong ties to the investment banking giant, which lent $2.5 billion to the president. According to the New York Times, Trump owed the bank, its largest creditor, close to $300 million when he became president.

Previously, Congress issued a subpoena demanding the bank to turn over documents linked to Trump’s personal and business accounts. The president sued the financial firm on April to prevent it from complying with that request.

Amanda Miller, a spokeswoman for the Trump Organization, said the company had no operating accounts with Deutsche Bank and claimed the organization had “no knowledge of any ‘flagged’ transactions” with the firm.

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