Deutsche Bank has said it will pay $150 million as part of a settlement with New York regulators, after being accused of violating anti-money laundering rules in its relations with the late disgraced tycoon Jeffrey Epstein.
The bank “failed to properly monitor account activity conducted on behalf of the registered sex offender,” the New York State Department of Financial Services (DFS) said in a statement on Tuesday. It added that the financial institution failed to monitor the activity despite having “ample information” about Epstein’s criminal record and the circumstances surrounding it.
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