2023-07-19 18:22:46
Deutsche Bank in Frankfurt
The bank said it has invested heavily in transaction controls since 2019.
(Photo: IMAGO/Jan Huebner)
New York, Frankfurt The American Federal Reserve has imposed a fine of 186 million US dollars on Deutsche Bank. The US bank supervisors justified this in a statement with the fact that Deutsche Bank had reduced deficits in the area of money laundering and sanctions control too slowly.
The Fed had already identified them in 2015 and 2017 and called for improvements. The order that has now been issued obliges Deutsche Bank to prioritize the improvement of its control systems.
The deficits relate, among other things, to the money laundering scandal surrounding the Estonian branch of Danske Bank. For this alone, Deutsche Bank has to pay 46 million dollars. Between 2007 and 2015, the institute worked as a correspondent bank for Danske Bank Estonia, which is at the center of one of the largest money laundering scandals in Europe and had smuggled suspicious payments in the billions from Estonia all over the world.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Read on now
Get access to this and every other article in the
web and in our app.
Further
#Deutsche #Bank #pay #fine #central #bank #imposes #fine #millions