On November 21, 2018, Deutsche Bank said its position as a correspondent bank for Danske Bank meant it had only a limited need to know who stood behind the transactions moving through the account.
Speaking in Frankfurt, Germany, the German lender’s chief regulatory officer, Sylvie Matherat, said the bank was not operating as the primary institution in the flow of funds. That, she said, reduced the level of detail Deutsche Bank needed to have about the individuals involved.
Matherat also said Deutsche Bank moved once suspicious transactions came to its attention. The comments came as the bank faced scrutiny over its role in processing payments linked to Danske Bank.
The Reuters file photo attached to the report showed the Deutsche Bank logo outside one of its office buildings in Frankfurt on October 27, 2016.
Reporting by Andreas Framke; Writing by Tom Sims; Editing by Thomas Seythal
