Deutsche Bank flagged its client and accused sex trafficker Jeffrey Epstein after uncovering transactions in which Epstein had moved money to overseas accounts, The New York Times reports. The bank reported the movements this year to a federal agency handling financial crimes. Deutsche Bank, which had counted Epstein among its clients in its private-banking division since at least 2013, severed ties with Epstein earlier this year, just a few months prior to his arrest for sex-trafficking charges. The bank had reportedly provided loans to Epstein and his businesses. Deutsche Bank spokesman Joerg Eigendorf told the NYT that the bank is “absolutely committed to cooperating with all relevant authorities.”
Anti-money laundering compliance officers with the bank previously raised concerns over Epstein in 2015 and 2016 and whether the bank should be doing business with him, at one point producing a so-called suspicious activity report over his transactions. However, it is unclear whether that report was ever filed with the Treasury Department.