German regulator orders Deutsche Bank to do more to prevent money laundering By Reuters

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© Reuters. FILE PHOTO: Deutsche Bank of Germany headquarters shown in Frankfurt

FRANKFURT (Reuters) – German regulator BaFin has ordered Deutsche Bank (DE 🙂 to enact more safeguards to prevent money laundering, BaFin said on Friday. Deutsche Bank said in a statement that it was improving its controls, but “we are also aware that there is still work to be done.” Since 2018, BaFin has been using KPMG to monitor Deutsche Bank’s progress in improving its internal controls. “Our request is aimed at achieving sustainable improvements in the prevention of money laundering at Deutsche Bank,” BaFin said in a statement. “The special commissioner will help us continue to closely monitor this, both now and in the future.”

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