If you did not see Comsures updates on 3 recent AML fines here is a refresher….. Deutsche Bank & Western Union Company & Coutts & Co. Ltd ALL FINED Deutsche Bank fined by U.S. and UK for alleged AML breaches; A European bank has been fined more than US$630 million by both UK and U.S. […]
Read MoreMORE AML FINES 31ST JANUARY 2017 – $425 MILLION+$235 million+$215 million+$185 million.
Alongside The New York State Department of Financial Services [DFS] DEUTSCHE BANK $425 MILLION FINE the DFSA have also fined; Intesa Sanpaolo S.p.A. = $235 million; Agricultural Bank of China = $215 million; and Mega Bank of Taiwan = $185 million. Today’s action further highlights the importance of DFS’s new risk-based anti-terrorism and anti-money laundering […]
Read MoreFCA Fines Deutsche Bank £163 Million For Serious Anti-Money Laundering Controls Failings
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 […]
Read MoreMajor tax avoidance scheme in Jersey and Cayman stopped – HMRC wins landmark bank bonus case
HMRC has managed to shut down a major tax avoidance scheme used by the banks UBS and Deutsche Bank after the Supreme Court ruled in its favour. UBS and Deutsche paid bonuses to around ten employees in the form of shares in specially created offshore companies, rather than cash. The banks created a class of […]
Read MoreDeutsche Bank said to face US money laundering probe
US authorities are investigating German banking giant Deutsche Bank over alleged money laundering in Russia, people familiar with the matter said Monday. The investigation centers on billions of dollars’ worth of transactions carried out by Deutsche Bank in Russia that New York state regulators believe may have been used to disguise money illegally moved out […]
Read MorePoor systems and controls and misleading information result £227miilion fine for Deutsche Bank
The Financial Conduct Authority (FCA) has handed Deutsche Bank AG (Deutsche Bank) a £227 million ($340 million) fine, its largest ever for LIBOR and EURIBOR-related (collectively known as IBOR) misconduct. The fine is so large because Deutsche Bank also misled the regulator, which could have hampered its investigation. The investment bank misled the regulator, which […]
Read MoreDeutsche Bank Fined $2.5 Billion for LIBOR Manipulation
Deutsche Bank has been fined $2.5 billion total by U.S. and British regulators for alleged LIBOR misconduct. LIBOR is a benchmark rate that some of the world’s leading banks charge each other for short-term loans. The U.S. and Britain accused Deutsche Bank employees of manipulating their LIBOR submissions, colluding with other banks that sat on the panel that submitted […]
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