- Topics
- Regions
- Events
- Webcasts
- Resources
- CW Exclusives
- Membership
“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
South Africa Fines Deutsche Bank $857,000 for Lax AML Controls
South Africa’s banking regulator last week fined Deutsche Bank $857,000 for failing to implement appropriate anti-money laundering controls. Deutsche Bank said in a statement that it acknowledged the inconsistencies and had “cooperated fully in remediating the identified shortcomings within agreed timeframes.” Details inside.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
Article
Brit Banking Regulators Wield Attestation More Often
Deutsche Bank paid $345 million to British regulators for its role in the LIBOR scandal, $153 million of that stemming from a false attestation the bank submitted about its internal controls. Those attestations are emerging as a potent tool for the U.K. Financial Conduct Authority. “This case sends a strong ...
-
News BriefFTC sues GM for selling location and behavioral data without drivers' consent
General Motors failed to disclose to customers that it tracked their precise locations and driving behavior and sold the data to third parties, the Federal Trade Commission alleged in a proposed order.
-
News BriefCash App owner Block to pay $175M over fraud caused by lax consumer protection practices
Block, the owner of Cash App and Square, will pay $175 million to settle allegations that its lax consumer protection practices put customers at high risk of fraud, the Consumer Financial Protection Bureau said.