Deutsche Bank Is Sorry It Violated U.S. Sanctions Laws 27,000 Times

Although, DB would like to just point out that it hasn't even talked to Iran, Libya, Syria etc. in, like, years.
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Sure, 27,000 times sounds like a lot but it always starts small. Like when you're sitting at your desk dying of hunger, knowing your co-worker's pudding pack is wasting away in the break room, dying to be swiped. Just this one time, you say to yourself. It's not like I don't know it's wrong, I do. I'm no criminal. I'll do it this one time and replace it tomorrow and it'll be like it never happened. But then you don't replace it and the next thing you know you're 27,000 empty pudding packs in the hole and you're in so deep you can't even remember a time when your face wasn't covered in chocolate-y evidence. And you're sick and you can't stop and at this point, you wouldn't even know how.

Deutsche Bank AG agreed to pay $258 million to the Federal Reserve and New York’s Department of Financial Services, and to fire six employees, to resolve a probe into sanctions violations from 1999 to 2006 for allegedly handling transactions linked to Iran, Libya, Syria, Burma and Sudan. The bank used “non-transparent methods” on more than 27,000 dollar-clearing transactions valued at more than $10.8 billion, New York’s Department of Financial Services said Wednesday in a statement. Those methods included stripping information “indicating a connection to a sanctioned entity” before passing a payment along to a bank in the U.S...Renee Calabro, a Deutsche Bank spokeswoman in New York, said the conduct ceased “several years ago” and the bank has since ended all business with the countries involved.

So...we cool?

Deutsche Bank Pays $258 Million to End Sanctions Probe [Bloomberg]

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