Deutsche Bank Warned by German Watchdog to Fix Controls or Face Fines
The headquarters of Deutsche Bank AG in Frankfurt, Germany.
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Deutsche Bank AG was told by German financial watchdog BaFin that it must fix its controls within given deadlines if it wants to avoid a financial punishment.
“BaFin ordered Deutsche Bank on Sept. 28, 2022, to take specific actions to prevent money laundering and terrorism financing,” the watchdog said in a statement late Friday. “It threatened to impose fines in case of noncompliance.”