Deutsche bank Fined for Money Laundering

Deutsche Bank was fined half a billion pounds for failing to prevent money laundering, where Russian rubles were converted into American dollars through a process called mirror trading. The bank's systems were exploited, leading to a $10 billion laundering operation. Deutsche Bank has since implemented new rules and closed its Russian investment bank, but investigations continue. Critics argue the fines are insufficient and highlight a lack of individual accountability. This incident follows a previous $7 billion fine for mis-selling mortgage products, marking a challenging period for the bank.

What was the main issue that led to Deutsche Bank being fined?

• Improper handling of customer data

• Involvement in insider trading

• Mismanagement of employee funds

• Failure to prevent money laundering

What financial technique was used to launder money in the Deutsche Bank case?

• Short selling

• High-frequency trading

• Mirror trading

• Ponzi scheme

What action did Deutsche Bank take in response to the money laundering scandal?

• Increased employee salaries

• Closed the onshore Russian investment bank

• Expanded operations in Russia

• Hired more financial analysts

How do some view the fines imposed on international banks like Deutsche Bank?

• As a deterrent to illegal activities

• As a minor inconvenience

• As a cost of doing business

• As a reward for compliance

What critical issue remains unresolved in the Deutsche Bank case?

• The identity of individuals responsible

• The legality of mirror trading

• The future of Deutsche Bank's London office

• The exact amount of money laundered