$10 BILLION Russian Money Laundering: Deutsche Bank’s Mirror Trading Scandal Explained
In this explosive investigation, we uncover how Deutsche Bank allowed $10 billion in suspicious Russian money to flow through their London trading desk using an ingenious scheme called “mirror trading.” This sophisticated money laundering operation went undetected for years despite multiple warning signs.
Timeline:
00:00 Introduction
01:06 What Happened?
04:15 Consequences
05:37 Lessons Learned
Between 2012 and 2015, Deutsche Bank became the unwitting pipeline for one of history’s most sophisticated money laundering operations. Russian clients would purchase stocks in Moscow using rubles while connected offshore companies simultaneously sold identical amounts of the same stocks in London for US Dollars. Money entered as rubles in Russia and appeared as clean dollars in Cyprus, Estonia, and Latvia.
The scheme was executed through Deutsche Bank’s Moscow office, with over 2,400 mirror trades processed over two years. The violations included breaches of principle 3, SYC rules violations, critical customer due diligence failures, and no effective transaction monitoring systems.
Most shocking were the missed opportunities to stop this scheme. In January 2014, another bank flagged suspicious transfers totaling $700 million. Later that year, Deutsche Bank’s own back office team discovered the mirror trade arrangement, yet the laundering continued until early 2015.
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Whether you’re a finance professional, compliance specialist, or simply concerned about the security of the global banking system, this case study provides essential insights into one of banking’s most shocking scandals. Follow up for more lessons learned:
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Video Tags
#MoneyLaundering #MirrorTrading #FinancialCrime #Compliance #AML #KYC #BankingScandal #RussianMoney #FinancialRegulation #FCA #FinancialConductAuthority #CorporateCrime #FinancialRisk #ComplianceFailures #BankingSecurity #FinancialIntelligence #FinancialEducation #FinTech #RiskManagement #CorporateFraud #WhiteCollarCrime #financialinvestigation
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$10 BILLION Russian Money Laundering: Deutsche Bank’s Mirror Trading Scandal Explained
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