How much was Deutsche Bank fined for its dealings with Epstein?

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Deutsche Bank Fined US$150 Million for Failures in Jeffrey Epstein Account Monitoring

Deutsche Bank has been fined US$150 million by the New York Department of Financial Services (DFS) for its insufficient monitoring of accounts held by Jeffrey Epstein. This penalty represents the first time a financial institution has been sanctioned for its transactions with the late financier. The DFS determined that the bank failed to adequately supervise Epstein's accounts despite readily available public information regarding his past criminal conduct.
Insufficient Monitoring of Epstein's Accounts

The DFS statement detailed that Deutsche Bank did not monitor Jeffrey Epstein's accounts with the necessary diligence. This failure occurred even though significant details about Epstein's criminal history were publicly accessible. Epstein, who was awaiting trial on charges of sex trafficking of minors at the time of his death in August 2019, had his accounts processed without sufficient scrutiny.
Millions in Suspicious Transactions Unquestioned

Regulators identified that Deutsche Bank failed to detect or prevent millions of dollars in suspicious transactions connected to Epstein's accounts. These included settlement payments exceeding US$7 million and legal expenses amounting to over US$6 million, which appeared to cover costs for Epstein and his associates. The bank also processed payments to Russian models, covered tuition for women's schools, and facilitated hotel and rent expenses, alongside payments to numerous women with Eastern European surnames.
Unaddressed Suspicious Withdrawals and Other Failures

Further examination revealed periodic suspicious cash withdrawals totalling more than US$800,000 over approximately four years. The DFS noted that few of these problematic transactions were ever questioned, and when they were, they were typically cleared without adequate justification. The US$150 million fine also encompasses similar failures by Deutsche Bank to act on red flags in its dealings with Danske Bank Estonia and FBME bank in Cyprus.

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How much was Deutsche Bank fined for its dealings with Epstein?

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