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Bank staff reported Trump, Kushner transactions for investigation: Report

The transactions set off alarms in the computer system designed to detect illicit transactions. One of the employees said she was terminated last year after she raised concerns.

Reuters  |  Washington 

Donald Trump
US President Donald Trump

Anti-specialists at AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, reported on Sunday.

The newspaper, citing five current and former employees, said executives at the German-based bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees' advice and the reports were never filed with the government.

said the transactions, some of which involved Trump's now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to the former employees.

Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes, according to the newspaper.

reported the viewed the decision not to report the transactions as a result of a lax approach to laws. They said there was a pattern of rejecting reports to protect relationships with lucrative clients, according to the newspaper.

One employee who reviewed some of the transactions said she was terminated last year after raising concerns about the bank's practices, reported.

The Times quoted a as saying investigators were not prevented from escalating activity identified as potentially suspicious. The described as "categorically false" any suggestion that were reassigned or fired in an effort to quash concerns related to any client. She also said Deutsche Bank has intensified efforts to combat financial crime.

A for told "the story is absolute nonsense." "We have no knowledge of any 'flagged' transactions with Deutsche Bank. In fact, we have no operating accounts with Deutsche Bank," she said.

The newspaper said a spokeswoman called any allegations of relationships involving "made up and totally false."

Officials at Deutsche Bank and were not immediately available to for independent comment.

The Times said the nature of the transactions was not clear. At least some of them involved money flowing back and forth with overseas entities or individuals, which considered suspicious.

The report surfaces at a time when congressional and New York state authorities are investigating the relationship between Trump, his family and Deutsche Bank, and demanding documents related to any suspicious activity.

Trump has sued in court in an attempt to block subpoenas for his financial records that were sent to Deutsche Bank, and the accounting firm

First Published: Mon, May 20 2019. 08:46 IST
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