The U.S. Office of the Comptroller of the Currency (OCC) said on Friday it had reprimanded MUFG Bank, Ltd. for lapses in its anti money-laundering controls and other compliance issues at its New York, Chicago and Los Angeles branches. The Tokyo-based bank did not accept or deny the charges dating back to 2016. The bank […]

The New York State Department of Financial Services [DFS] FINES DEUTSCHE BANK $425 MILLION FOR RUSSIAN MIRROR-TRADING SCHEME. The Bank Allowed Traders to Engage in a Money-Laundering Scheme Using “Mirror Trades” That Improperly Shifted $10 Billion Out of Russia. DFS Directs Bank to Hire an Independent Monitor to Review and Report on Its Existing Compliance […]

The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial […]