All Deutsche Bank articles
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ArticleWells Fargo gives us another reason to doubt their culture comeback
While Wells Fargo ends up with yet another “Failed It” this week, we salute the principled Deutsche Bank whistleblower whose refusal to accept “dirty money” cost him everything.
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Article
Deutsche Bank fined $15.9M for lag in reporting suspicious transactions
A German public prosecutor levied a €13.5 million (U.S. $15.9 million) fine against Deutsche Bank for failing to report over 600 suspicious transactions in a timely manner but dropped a wider investigation related to the Danske Bank money laundering scandal.
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Article
BoA a silver lining in damning ‘FinCEN Files’ report; Wells Fargo CEO puts foot in mouth
Bank of America gets a pat on the back for going beyond an “observe and report” approach to filing a SAR, and we learned this week that Wells Fargo’s CEO needs a little unconscious bias training.
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Article
‘FinCEN Files’ show Europe’s AML efforts maybe aren’t so world class
The damning revelations from the “FinCEN Files” leaks have once again put Europe and its supposed world-leading anti-money laundering rules under the spotlight.
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Article
‘FinCEN Files’ report casts compliance officers in unfair light
The BuzzFeed “FinCEN Files” investigation purportedly uncovered evidence of a catastrophic, international collapse of internal controls within the world banking system. But that argument is misleading, to the point of being disingenuous.
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Article
Deutsche Bank Trust to pay $583K in Ukraine sanctions settlements
Deutsche Bank Trust Company Americas has reached a pair of settlements with the Office of Foreign Assets Control totaling $583,100 for apparent violations of Ukraine-related sanctions.
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Article
What the Wirecard story tells us about red flags, healthy skepticism
How we came to learn about the fraud allegedly perpetrated by Wirecard offers important lessons in compliance and corporate governance, writes financial crime expert Martin Woods.
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Article
Firms must apply contact tracing rules to bank relationships
In order to prevent debacles like the one Deutsche Bank is embroiled in, there is a need to combine the processes of “know your employee” and “know your customer,” writes Martin Woods.
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Article
Analysis: When clean money is used for dirty purposes
There are times when it is a necessary to consider where clean money is going to as much as where dirty money may have come from, writes financial crime expert Martin Woods.
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Article
Kudos to TikTok, tech brethren; Starbucks & Luckin have us soured on coffee cos.
In the inaugural edition of our weekly “Nailed It or Failed It?” feature, we give TikTok and other tech companies a pat on the back and shake our heads at the actions of Starbucks and Luckin Coffee.
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Article
Deutsche Bank rightly paying the price for looking the other way on Epstein
In terms of Know Your Customer, Deutsche Bank knew what it had with Jeffrey Epstein. It just didn’t care enough to do anything about it.
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Article
Deutsche dinged $150M for compliance failures related, in part, to Jeffrey Epstein
Deutsche Bank will pay $150 million in penalties under a consent order with New York State for “significant compliance failures” regarding, in part, its former relationship with accused child sex trafficker Jeffrey Epstein.
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Article
Deutsche to pay $10.3M for swap data reporting, spoofing practices
Deutsche Bank will pay a total of $10.3 million to resolve two separate CFTC settlements: one for alleged violations of various swap data reporting and other regulatory violations and the other for spoofing practices by two of its traders.
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Article
Deutsche Bank goes internal with general counsel replacement
Deutsche Bank announced Karen Kuder has been appointed general counsel and global head of its legal department. The move comes roughly a week after the bank mutually parted ways with former General Counsel Florian Drinhausen.
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Article
Deutsche Bank, general counsel mutually part
Deutsche Bank announced General Counsel Florian Drinhausen will leave the company on May 31 by mutual agreement. The bank will decide on a successor at the position in the near future.
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Article
Top ethics and compliance failures of 2019
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
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Article
Time to reassess the meaning of ‘compliance’
Deutsche Bank is just the latest scandal-plagued bank to make headlines, once again, for ignoring sound compliance advice. Maybe it’s time to eliminate the entire concept of compliance altogether, writes an exasperated Jaclyn Jaeger.
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Article
Deutsche Bank to pay $16M in FCPA case over hiring practices
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
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Article
Epstein lesson: Ignored compliance advice a red flag
The Jeffrey Epstein scandal serves up a cautionary lesson for those who work for companies that put profits over ethics.
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Blog post
McHenry pushes for financial services hearings, Deutsche Bank records
Rep. Patrick McHenry (R-N.C.), the Republican leader of the House Financial Services Committee, has announced a series of hearings he wants before the Committee. He is also escalating document demands from scandal-plagued Deutsche Bank.
