Bank shares slide on report of rampant money laundering

Shares of JP Morgan tumbled 4.4%.

The consortium’s investigation found the documents identify more than $2 trillion in transactions between 1999 and 2017 that were flagged by financial institutions’ internal compliance officers as possible money laundering or other criminal activity, and $1.3 trillion of that activity took place at Deutsche Bank. Shares of Deutsche Bank dropped 7.7%.

Deutsche Bank has been under scrutiny for years. The bank, based in Frankfurt, Germany, agreed to pay the state of New York $150 million to settle claims that it broke compliance rules in its dealings with the sex offender Jeffrey Epstein. Epstein killed himself last August in a Manhattan federal jail while awaiting trial on sex trafficking charges.

German newspaper Sueddeutsche Zeitung reported last year that Deutsche Bank gave expensive gifts to senior Chinese officials and hired family members of Chinese elite as it was trying to establish itself as a major player

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Personal Capital



graphical user interface, application: Personal Capital


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Personal Capital

Personal Capital is a Fintech business that advises consumers on how best to invest their money and offers a portfolio of products that help to automate the process. Using their supporting app it’s possible to quickly consolidate many different accounts covering everything from investments through to retirement savings. 

Having been around since 2009 the personal finance software is both free and easy to use. It’s essentially a combination of a finance-tracking tool that can help you keep tabs of spending via your bank accounts and credit cards while also incorporating tools for monitoring investments. Handy during the coronavirus pandemic.

Personal Capital gets a further boost from the paid-for financial advisory services that it offers. It’s also possible to use various Personal Capital tools, including a Retirement Readiness Score, Recession Simulator and a Fee Analyzer to complete your financial housekeeping.

Comparable products include Mint, You

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