Deutsche Bank, BofA, JPM Are Said to Be Questioned in Danske Probe

The video discusses JP Morgan's involvement in a significant money laundering investigation related to Danska Bank's activities in Estonia. It explains the correspondent banking system, which allows major banks to have accounts with foreign banks for cross-border transactions. The investigation questions the due diligence of banks like Deutsche Bank and Bank of America, which continued their relationships with Danska Bank after JP Morgan withdrew. The discussion also touches on the broader implications for risk management and compliance in the banking sector, referencing past issues like Standard Chartered's fines and the 1MDB scandal with Goldman Sachs.

What questions are being asked of Deutsche Bank and Bank of America in the investigation?

How might the investigation impact the risk management strategies of major banks?