Commerzbank AG’s offices in Frankfurt were searched Tuesday as German authorities continued their investigations into a widening tax scandal involving multiple global lenders. The raids are tied to controversial trading practice across the industry known as Cum-Ex, according to a person with knowledge of the matter who asked not to be identified in disclosing private information. […]

A former supervisor of Deutsche Bank’s Pool Trading Desk and a former derivatives trader were convicted today in New York for their participation in a scheme to manipulate the London Interbank Offered Rate (LIBOR), a critical global benchmark tied to trillions of dollars in derivatives, loans, mortgages, and other financial products. Assistant Attorney General Brian […]

FRANKFURT (Reuters) – Deutsche Bank has uncovered shortcomings in its ability to fully identify clients and the source of their wealth, internal documents seen by Reuters show, more than a year after it was fined nearly $700 million for allowing money laundering. In two confidential reviews, dated June 5 and July 9, Germany’s biggest lender […]

NEW YORK (Reuters) – Deutsche Bank AG agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market. The German lender is the 15th of 16 banks to settle the private investor litigation, for a total payout of $2.31 billion. Only Credit Suisse Group […]

The Deutsche Bank has been operating bank accounts for a political party that reportedly supports PFLP, which both the US and the EU define as a terrorist organization. The Office of the New York State Comptroller on Friday opened an investigation into accounts Deutsche Bank holds for a German political party that allegedly provides organizational […]

US and UK regulators continue to focus on enforcement actions against institutions and individuals for violations of anti-money laundering (AML) laws and regulations, and the trend is intensifying. A review of recent US and UK enforcement cases reveals common themes financial institutions might consider when establishing or assessing the effectiveness of AML programs. Specifically, regulators […]

May has been a busy time for AML FININING (56 million euros) as noted here The Governor and Company of the Bank of Ireland Agrees on Monetary Penalty of €3,150,000 for AML/CFT Compliance Failures https://archive.comsuregroup.com/governor-company-bank-ireland-agrees-monetary-penalty-e3150000-amlcft-compliance-failures/ BNP Paribas Fined 10 million EUROS Over Weaknesses in Anti-Money Laundering Controls French bank watchdog ACPR said it had fined […]

The bank allegedly used complex derivative trades to hide losses at Monte Paschi. Milan — Deutsche Bank, on trial in Milan for allegedly helping Banca Monte dei Paschi di Siena conceal losses, must face accusations that it was running an international criminal organisation at the time. “Prosecutors used internal Deutsche Bank documents and e-mails to […]