15 global banks' legal costs still mounting: Moody's

Dublin

THE world's biggest banks, including Deutsche Bank AG, JPMorgan Chase & Co and Goldman Sachs Group Inc, will probably continue to pay for their past sins, according to Moody's Investors Service.

The three lenders are among a group of eight global banks facing "high risk" litigation tied to alleged misconduct such as the rigging of currency markets and sales of faulty mortgage-backed securities, Moody's said in a report on Tuesday. The consequences could include "substantial costs" and criminal proceedings, the ratings company said.