World Bulletin/News Desk
The U.S. Justice Department and the Manhattan District Attorney's office are investigating the banks for allegedly using U.S. branches to move billions of dollars in Iran-linked transactions, according to the New York Times report, citing unnamed law enforcement officials.
The investigation into Deutsche Bank is at an early stage and so far there is no suspicion the Germany-based institution moved money on behalf of Iranian clients through American operations after 2008, when a policy loophole allowing such maneuvering closed, the Times reported.
Deutsche Bank decided in 2007 it would "not engage in new business with counterparties in countries such as Iran, Syria, Sudan and North Korea and to exit existing business to the extent legally possible," a spokesman told Reuters on Saturday. He declined to comment further.
The Manhattan District Attorney's office and U.S. Justice Department declined to comment. The U.S. Treasury Department did not immediately respond to a request for comment.
The report of the Deutsche Bank probe came days after a settlement for $340 million with New York's banking regulator and Britain's Standard Chartered Plc. The Manhattan District Attorney and federal authorities have not yet settled their probes of the bank.
That deal with New York Superintendent of Financial Services Benjamin Lawsky was done without agreement with the Manhattan District Attorney's office and federal authorities.
Reuters has learned that Lawsky ignored the entreaties of federal regulators to drop his own action in favor of a single, global settlement. Although winning a larger settlement than many thought possible, others say Lawsky's tactics have alienated federal officials and could make it tougher for him to partner with them on future cases.
Since 2009 the Manhattan District Attorney, Treasury Department, Justice Department and other agencies have entered into settlements with a handful of foreign banks including Credit Suisse, Lloyds and most recently ING , totaling roughly $1.8 billion.
Authorities have said in the past other foreign banks are under investigation.
A consortium with 162 giant US companies will develop electronics, sensors that flex and stretch into clothing or skins of ships and jets
Kerry reiterated his government's call for Iran to release two other Americans as well
AU and Khartoum enjoy good relations as African leaders have supported Sudan's president in his battle against ICC
TRNC foreign minister says intensity fuelling discussions has not been seen since the 2004 'Annan plan'
Journalist allegedly demanded$3.4 mn not to publish the book, which reportedly contains damaging revelations about Mohammed VI
Death toll from grim discovery more than double than initial estimate
UN says migrant flow increased by a third since 2014
Dozens of Jewish settlers overnight took over a large, five-story building in Silwan, and tried to force a Palestinian family who resides in it and holds a legal rental contract, to leave.
Austrian newspaper Krone has said that three people have been arrested over the truck tragedy that saw 90 refugees found dead in a lorry.
As Ukraine readies itself for entry into the EU, leaders have backed less restricted travel for Ukraine amid migration crisis in Europe
With porous borders and disease outbreaks inside and around Uganda, authorities are using Twitter to speed up response times
German Justice Ministry, Facebook will discuss protection of people against abuse, hate speech and bullying
Horrible discovery of dead migrants is a warning to Europe to get to grips with the migrant crisis, says Merkel
German Chancellor says EU must help Balkan countries to deal with migrant influx
Final report into the downing of Malaysia Airlines flight MH17 over war-torn eastern Ukraine last year will be released in October 13