Deutsche Bank whistleblower hits back at regulator

Deutsche Bank whistleblower hits back at regulator

A whistleblower who highlighted suspicious activity at a Dubai firm has hit back after the publication of a damaging finding against her.

In October Anna Waterhouse said Dubai regulators had failed to investigate “suspicious circumstances” at Kaloti, the emirate’s biggest gold refiner.

Subsequently the regulator found she “acted without integrity” in another matter.

That finding was designed to discredit her, Ms Waterhouse has told the BBC.

The DFSA said it had followed “full and fair process”. Both Kaloti and the DFSA have denied any wrongdoing.

Ms Waterhouse, a former general counsel at Deutsche Bank, revealed to the BBC’s Panorama on 28 October that the Dubai Financial Services Authority (DFSA) had failed to investigate a “catalogue of suspicious circumstances” at Kaloti.

Kaloti was used by a drug gang to launder money, Panorama found.

But less than eight weeks after the film was broadcast, the DFSA published a finding in a separate matter claiming Ms Waterhouse had “acted without integrity”.

‘Clear message’

Ms Waterhouse sought to appeal against that finding and prevent it from from being published. But permission to appeal was refused.

“With this decision the Dubai Financial Services Authority has sent a very loud, very clear message to the market about what happens to whistleblowers in their jurisdiction. They get punished,” she said.

“I reported serious money laundering suspicions about Kaloti and financial transactions facilitated by my former employer.

“Instead of investigating the suspected wrongdoing, the DFSA turned on me and have campaigned for years to discredit and undermine me.”

Source: BBC

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