A strong stance against the russian strongman because franco. Is also one of the countrys most critical economic partners. For the show. And its good to have you with us a german Lender Deutsche Bank is no stranger to scandal paying more than 10000000000. 00 in fines and settlements over the last decade for everything from dodgy Mortgage Backed securities to Money Laundering but the bank has supposedly cleaned house now a trove of leaked files sheds new light on past transactions and raises the possibility of new scrutiny from regulators. For years customers from russia and other former soviet states funneled money into the western Financial System via too much of bank the socalled near a trade scheme unraveled in 2015 the bank later paid a settlement of more than 600000000. 00. Joy. Was found to have been engaging in a variety of suspect trades involving as much as 10000000000. 00. The bank didnt seem to be a victim they seem to be a participant in these mirrored trades back then dont you bank promised to clean up its act now u. S. Financial documents reveal that the bank itself estimated internally that this is vicious trades amounted to 16000000000. 00 and that it could have still been involved in the dealings until 2017 that is long after the scandal had come to light according to the u. S. Documents russian criminals and a money launderer for a terrorist group or among the customers involved theyre all believed to have laundered money at the Moscow Branch of Deutsche Bank a spokesman points out that the bank completely withdrew its Investment Business in russia and 2016 and has become a Different Bank altogether. If you want to increase the ante Money Laundering department from 600 to more than 1500 people weve strengthened the systems and this is an ongoing process. A consequence of the failed control mechanisms prior to 2015 also in the internal Auditing Department christianes even was its head until the end of 2014 now hes dutch a bank c. E. O. His former Department Head audited the russian deals but never noticed the suspicious transactions but a later extra no investigation revealed serious shortcomings. Fortunately the current chief executive did not sign off on it back then he also did not read it at that point 24 team as there was no reason no concert him to do so unless. The bank does not feel its current c. E. O. As responsible. Or right so a complicated issue here to go through this i have your porter Arthur Sullivan joining me here in studio and Chelsea Delaney our financial correspondent in frankfurt good to have you both arthur lets start with these files this big leak what exactly was it and how does it relate to georgia ok so these files have been leaked from the u. S. Treasuries specific department for investigating financial crimes hence the name fin sent Financial Crimes Enforcement Network they were linked to journalists in both feet which then shared it with the in International Consortium of International Rescue of journalists and what these files are stephen is Financial Transactions reports by banks where they think suspicious activity has taken place so thousands of reports which banks have filed themselves to u. S. Authorities saying this looks like a dodgy transaction because it comes from such a country or it involves individuals with a history of been involved criminality yet the transactions in many cases are in most cases went through and terms of georgia banks are all the bad news for them is that of the 2 trillion dollars worth of transactions that are details here Deutsche Bank accounts are involved in some way and over half and 60 percent so the questions are now mounting for george one as to exactly what the role was in each one and what weve gotten from these leaks is more detail on a lot of people knew already that banks have a history and have been involved in money in helping our facilitating Money Laundering but this provides extensive detail on that and thats whats all going to come out in the coming days and weeks or so theyre flagging the suspicious activity but theyre also going through the transactions those leads a lot of questions chelsea owner bring you in on this Deutsche Bank as we know is no stranger to big scandals and especially Money Laundering in recent years has repeatedly come up for the bank did these reports shed any new light on their activities. Yes they do the sort of the scandal at the heart of these new documents is Money Laundering that was happening out of. Euro so this is something that we did already know about Deutsche Bank has already paid about 600000000. 00 worth of fines to regulators in the United States and in the u. K. Back in 2017 but what these new documents show is that the 1st off the the fraud and. Money laundering was much more widespread than had previously been known so. Whenever this came out it was looking at about 10000000000. 00 it seems to be much much higher than that. The the Money Laundering also seem to have gone on much longer than we thought so whenever these fines were handed down to which the bank. They were seen as being that activity was seen as happy having stopped on 2015 it looks like its gone on longer of the perhaps most damning part is for which a bank is that its really its shown that the executives at the company high up executives knew about this excuse me and continue to continue to allow it so it definitely raises a lot of questions and of course as we know has claimed that they have cleaned up a lot of their processes there in bank controls or inhouse controls or for what about you this really begs the question of who has oversight over these transactions the banks can say we flagged them what regulators doing their jobs regulators will say maybe the banks have done something how do you see this its really the key question about all this stephen because as you just said the banks were aware of this the report of the information themselves but the question comes down to whose job ultimately is it to prevent crime or to stop crime and the banks certainly of questions to answer in some of these instances its quite clear that the transactions taken place are criminals the banks have a very very good idea about and yet still receive substantial fees for the transactions and allow them to go through the day and then subsequently report them but is that enough ultimately though the question really comes down to the record. The regulators have been sitting on this information in some cases for several years are they doing enough but then that leads into the even broader question similar to the one facing the question over global tax avoidance and evasion who ultimately is responsible for cleaning this up is it governments is it supernational bodies is it regulators in individual countries is it companies and banks themselves its comes down to the core question whose job is that ultimately to fight crime or did any business is Arthur Sullivan and financial correspondent Chelsea Delaney joining us from frankfurt thank you both very much. Right will you trade ministers meet today in berlin for informal talks by many measures its been a rough year deal with the u. K. Is on the rocks an agreement with china is a nonstarter and the u. S. Remains prickly the question now are there any bright spots for. E. U. Trade ministers can at least chalk up one success of Free Trade Agreement with americans who are states of argentina brazil paraguay and. Marcos or members together with the European Union would form the Worlds Largest free trade zone the plan could save 4000000000. 00 euros in future tariffs but the deal is at risk of falling through at the last minute due to resistance from some e. U. Members and because a few markets or states feel cheated. And the recent agreement with china is also problematic german vintners may be happy as german wines such as reselling may no longer be faked in china but thats it for the concessions. There is no improved Market Access for a u. Firms no protection for their investments and no increase transparency on subsidies for state owned companies. E. U. Leaders expressed their frustration. Europe needs to be at play not pulling treats. And then theres the trade dispute with the u. S. Both parties are fighting over respective aircraft subsidies. President trump is threatening e. U. Firms that do business with Chinese State owned enterprises and he wants to restrict european automakers access to the u. S. Market with tariffs. These are challenging times for european trade ministers. Are staying on the topic of trade but the way nya is calling for more economic support to a democratic bellerose joining poland in romania 3 nations proposed more favorable trade terms for the country as well as visa liberalization and help negotiating entry a lithuania particular has a major stake in the belorussian economy its port klaipeda is a gateway to minsk handling 40000000 tons of Mineral Resources fertilizers and containers now the unrest in belarus has the small baltic nation worried about the future of business. The port of clay put it on the un use coast on the baltic sea is the number one home for goods to and from neighboring bella ruse that country ships all its petrol diesel and fertilizer exports through the e. U. Port into the world at large but that also makes the port dependent on bella ruse a 3rd of play but as revenues come from its dealings with the authoritarian government in minsk thats why port managers are worried about the unrest in the country. Is a threat to. Market share business there was a relationship bellows president Alexander Lukashenko needs clayburgh as well though the main reason for that is his countrys huge Oil Refineries which he visited just recently in august. The refineries are a major source of hard currency for beller use their process cheaply bought crude oil from russia into petrol and diesel which is sold abroad for a hefty markup but since russia raised the price of its crude lucas shango has been importing the oil from other countries by a better. Oh its a known fact that in 6 months belarus imported more than 5000000 tons of crude oil from russia and somewhat more than a 1000000 tons from other sources. 2 tankers even came from the u. S. And oil also arrived from saudi arabia and doesnt budge on. Within the e. U. Lithuania is one of those hardest critics and refuses to recognize the recent Election Results in belarus and theres levied sanctions against his Party Friends but the notion of economic sanctions above and beyond isnt on the table. I cant imagine that our war would impose sanctions on the levels caused for example because the general sanctions vague. Arming not only those who are doing bad things but also old generals aside and this is what the old western countries who have been trying to push it so the e. U. Is limiting itself to diplomatic sanctions things like travel bans and freezing mints government members Bank Accounts pinpricks that are unlikely to sway someone like lucas and go. And heres a reminder of our top story this hour make files shed new light on past transactions by german lender deutsche abroad and raise the possibility of new scrutiny from regulators. Thats your bishop for now thanks for watching. The power of influencers and what they mean for democracy. Will come to the 6th session global local influencers have an enormous reach. Now increasingly voicing their opinions about political issues theres a new dynamic is emerging. What does this mean for democracy. Joining our discussion starts 1230. Most muslim women between their faith and selfdetermination. I dont want anyone to tell me what the family headstock knows how women are striving to reform their islam. To some traditional prejudices. Women in islam start september 24th on t. W. From namibia has an ambitious goal she wants to immigrate to germany. With the help of a recruiting agency the qualified nurse finds a job at a german hospital. Place often goes to the market in the namibian capital been to together with her cousin and her cousin saif. They all live together and are close to one another. 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