Deutsche Bank Faces EU Parliament Grilling Over Legal Troubles
(Bloomberg) -- Deutsche Bank AG faces more scrutiny over questionable financial flows -- this time in Brussels.
Police raids on the company’s offices and involvement in Danske Bank A/S’s $230 billion money-laundering scandal prompted the European Parliament to devote a special session to Deutsche Bank on Feb. 4. Stephan Wilken, the head of the bank’s anti-financial crime unit, is scheduled to appear alongside Jens Fuerhoff, an official at Germany’s financial regulator BaFin, according to a draft agenda for the hearing.
The hearing has been scheduled by the parliament’s special committee on financial crime, which was set up last year after a range of revelations on international tax evasion and money-laundering schemes.
Deutsche Bank Chief Executive Officer Christian Sewing said last week he’s launched a further internal investigation into the lender’s role as a correspondent bank for Danske, even though he hasn’t seen evidence of wrongdoing. The Federal Reserve is examining the company’s involvement in the case, according to people familiar with the matter.
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