- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-12-30T17:05:00
Germany’s market regulator BaFin imposed an administrative fine of 8.66 million euros (U.S. $9.8 million) on Deutsche Bank for breaches of the European Union’s Benchmarks Regulation.
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Deutsche Bank confirmed its Frankfurt headquarters were raided by German prosecutors in relation to a money laundering probe regarding suspicious activity reports filed by the bank.
BaFin, Germany’s market regulator, signaled Deutsche Bank still has more to do concerning previously ordered improvements to its AML compliance controls.
Deutsche Bank and its subsidiary, DB Group Services (U.K.), pleaded guilty to wire fraud for their role in manipulating the London Interbank Offered Rate and agreed to pay $775 million in criminal penalties to the Department of Justice, bringing the total amount of penalties against the bank to $2.5 billion. ...
Purported “testimonial and review” service Rytr agreed to stop selling its program that used artificial intelligence to create fake content as part of a consent order with the Federal Trade Commission.
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs.
Aviation maintenance services provider AAR Corp. will pay nearly $56 million to settle charges that it violated the Foreign Corrupt Practices Act when it paid bribes to government officials in Nepal and South Africa.
