- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-12-19T17:05:00
Deutsche Bank said it is about “two-thirds” of the way toward meeting Germany’s financial regulator’s demands for tighter controls to combat money laundering and terrorist financing.
Last month, BaFin said in a press release it told Deutsche Bank on Sept. 28 to take “specific measures” to prevent money laundering and terrorist financing, giving it a deadline of mid-2023 to comply. The bank said it is confident it will meet the deadline to complete the rest of the requirements.
Failure to do so would risk unspecified financial penalties under the German Money Laundering Act.
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2023-10-20T17:45:00Z By Kyle Brasseur
Deutsche Bank was assessed a penalty of €170,000 (U.S. $180,000) by Germany’s financial supervisory authority for failing to timely submit suspicious transaction reports.
2023-09-25T17:26:00Z By Kyle Brasseur
DWS Investment Management Americas agreed to pay $25 million in penalties across separate settlements with the Securities and Exchange Commission addressing alleged misstatements in environmental, social, and governance investments and anti-money laundering violations.
2023-07-27T13:55:00Z By Kyle Brasseur
Germany is set to establish its new Federal Bureau of Financial Intelligence as the country’s office overseeing monitoring and analysis of money laundering and sanctions enforcement, according to multiple reports.
2025-03-18T16:56:00Z By Aaron Nicodemus
The U.S. Treasury’s effort to dramatically narrow the focus of the Corporate Transparency Act through “emergency” rulemaking would gut the law’s anti-money laundering efforts, a transparency expert said.
2025-03-11T16:46:00Z By Aaron Nicodemus
Two senators behind the Corporate Transparency Act have demanded that U.S. Treasury Secretary Scott Bessent justify his suspension of one of the law’s anti-money laundering requirements.
2025-03-07T15:42:00Z By Aaron Nicodemus
TD Bank leadership called its response to anti-money laundering program lapses its “top priority” as federal regulators named their choice of a compliance monitor to oversee a top-to-bottom rebuild of its AML program.
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