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The US Federal Reserve is investigating Deutsche Bank’s role in a money laundering scheme that has embroiled both it and Denmark’s Danske Bank. The Fed’s investigation is at an early stage, Bloomberg said, citing unnamed people familiar with the matter. The US central bank is investigating whether Deutsche Bank in New York properly monitored the transfer of funds it performed on behalf of Danske from its Estonia branch, the report added. Deutsche CEO Christian Sewing said last week that the bank was investigating the Danske case internally, and that it had no indications of any misconduct on the bank's part.
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