After BNP Paribas’ record fine, US authorities reportedly have their sights on Germany’s Commerzbank and Deutsche Bank over their dealings with countries under sanctions by the United States.<br /><br />Settlement talks have just begun, according to media reports citing sources with direct knowledge of the investigations. The timing of a deal remains unclear. <br /><br />After failing to land high-profile criminal cases stemming from the 2008-09 financial crisis, the US Justice Department and financial regulators in New York have been focusing on other types of criminal activity including money laundering, tax evasion and sanctions violations.<br /><br />Commerzbank is accused by US authorities of transferring money through its operations in the states on behalf of companies in Iran and Sudan. <br /><br />It could pay at least $500 million (367 million euros) in penalties, according to the New York Times, which first reported the settlement talks.<br /><br />The paper said a deal could be struck as soon as this summer and could pave the way for an agreement with Deutsche Bank. <br /><br />Deutsche Bank and Commerzbank would not comment on the reports.<br /><br />with Reuters
