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Banks aid Russia probe
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August 30, 1999: 8:43 a.m. ET
Report: Deutsche, UBS alert U.S. agents to 'suspicious activities'
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LONDON (CNNfn) - Deutsche Bank and Switzerland's UBS have alerted U.S. authorities to suspicious activity that could be linked to an alleged $10 billion money-laundering operation by a Russian crime syndicate through two U.S. banks, according to a report published Monday.
The German bank's U.S. unit, Bankers Trust, also filed a separate "suspicious activity report" with the U.S. Treasury Department's Financial Crimes Enforcement Network, according to the Wall Street Journal, citing people familiar with the situation.
The reports were filed after the news broke of an investigation into the use of Bank of New York accounts by the Russian gangsters almost two weeks ago.
Since then other banks with links to Russia have been scouring their books in a bid to find any irregularities before law enforcement agencies do so.
A spokeswoman for Deutsche Bank in Frankfurt told CNNfn.com she was prohibited from commenting on any matters connected with money-laundering. UBS could not be reached for comment. Neither bank has been accused of any wrongdoing by the authorities.
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