JUST IN: Deutsche Bank agrees to pay $150 million in penalties over its relationship with Jeffrey Epstein as part of a consent order with regulators in New York, the state’s Department of Financial Services says.
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Deutsche Bank reportedly processed millions of dollars worth of transactions that should have prompted additional scrutiny in light of Epstein's history, regulators allege.
"Banks are the first line of defense with respect to preventing the facilitation of crime through the financial system, and it is fundamental that banks tailor the monitoring of their customers' activity based upon the types of risk that are posed by a particular customer," Superintendent Linda Lacewell said in a statement.
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