- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-18T21:00:00
Deutsche Bank agreed to pay $75 million to settle a class-action lawsuit filed by sexual assault victims of Jeffrey Epstein.
The bank was accused of keeping Epstein as a client for five years after discovering he was using money in his accounts to facilitate payments for a sex-trafficking ring, in which hundreds of young women were paid to have sex with Epstein and his friends.
A joint statement by law firms Edwards Pottinger and Boies Schiller Flexner, who represent Epstein’s victims, said the “groundbreaking settlement is the culmination of two law firms conducting more than a decade-long investigation to hold one of Epstein’s financial banking partners responsible for the role it played in facilitating his trafficking organization.”
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2024-03-21T16:00:00Z By Aly McDevitt
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
2024-03-20T16:00:00Z By Aly McDevitt
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
2024-03-19T16:00:00Z By Aly McDevitt
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
2025-01-08T17:13:00Z By Jeff Dale
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
2024-12-30T14:57:00Z By Aaron Nicodemus
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
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