Deutsche Bank is conducting an internal investigation a possible money laundering transactions by some of its Russian clients, which is expected to exceed $6bn.
The probe is looking at trades conducted over a period of four years from 2011 to early this year.
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The transactions under probe, reportedly, include stocks purchased by Russian clients in rubles through the bank, as well as trades through London in which the bank acquired the same securities for similar amounts in US dollars.
The German lender is also carrying out an investigation on whether the transactions enabled Russian clients to move funds out of the country without alerting the authorities.
The bank in a statement said, "We are committed to participating in international efforts to detect and combat suspicious activities and we take strong action where we find evidence of misconduct. We have placed on leave a small number of individuals from our Moscow operation pending the results of an internal review."
Among the employees placed on leave in association with the investigation include Tim Wiswell, who manages the firm’s Russian equities operations.
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