Capital One cites anti-money laundering concerns in Trump Organization case

Capital One says Trump Organization account closures in 2021 followed review by anti-money laundering team.

Capital One Financial has hit back against a US lawsuit over its decision to close more than 300 of the Trump Organization‘s bank accounts in 2021, stating that it did so after a review by its anti-money-laundering team.

The disclosure filed on Friday marks the first time a bank has formally tied money-laundering concerns to United States President Donald Trump‘s family business, according to Reuters.

Capital One is seeking to dismiss the case by casting doubt on claims of illegal debanking — or denial of services on religious or political grounds — against the Trump Organization.

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