Deutsche bank Fined for Money Laundering

Deutsche Bank was fined half a billion pounds for failing to prevent money laundering, where Russian rubles were converted into American dollars through a process called mirror trading. The bank's systems were exploited, leading to a $10 billion laundering operation. Deutsche Bank has since implemented new rules and closed its Russian investment bank, but investigations continue. Critics argue the fines are insufficient and highlight a lack of individual accountability. This incident follows a previous $7 billion fine for mis-selling mortgage products, marking a challenging period for the bank.

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