Asset Management: "Requirements not met" - Investigator describes theft of customer funds at Deutsche Bank
A former employee relieved affluent customers of more than €600,000. Compliance with regulations apparently was not monitored.
The trial of a former Deutsche Bank manager accused of stealing customer funds has revealed more details. The head of the bank's internal investigation told Frankfurt's regional court that the bank only stumbled upon the case by chance and did not properly monitor internal regulations. Sven R., the former team leader, admitted to withdrawing over €600,000 from wealthy clients' accounts between 2023 and 2025 to speculate on the stock market.
Despite large sums being withdrawn, no one noticed, as colleagues failed to follow the bank's four-eyes principle for transactions over €2,500, which requires a second check.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
