«FinCEN Files» Round-Up: What Say the Banks?

«FinCEN Files» Round-Up: What Say the Banks?

Deutsche Bank: closed at EUR7.00, 4-month low
Clients named in report: Rukaiyatu and Atiku Abubakar (Nigeria; corruption); Deripaska; Firtash; the Khrapunov family; Ihor Kolomoisky (Ukraine; fraud); Low; Manafort; Odebrecht; Rotenberg brothers.

At $1.3 trillion, Deutsche Bank was the FinCEN Files leader of suspicious activity reports and the release sent its stock price falling to a 4-month low.

«We have devoted significant resources to strengthening our controls and we are very focused on meeting our responsibilities and obligations,» the bank said in a statement that the issues raised were historic ones well known by regulators and already addressed.

«We have devoted significant resources to strengthening our controls and we are very focused on meeting our responsibilities and obligations.»

Bank of New York Mellon – closed at USD33.97, 4-month low
Clients named in report: Ablyazov; Deripaska; Firtash; Ruja Ignatova (Bulgaria; fraud); Klyuyev; Kolomoisky; Low; Manafort; the Rotenberg brothers; Zarrab.

Bank of New York Mellon’s share price faced a similar outcome to its non-British peers, falling to a multi-month low.

«We fully comply with all applicable laws and regulations, and assist authorities in the important work they do,» according to the bank, adding that it did not comment on specific suspicious activity reports.