All Deutsche Bank articles – Page 3
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ArticleDeutsche Bank names new group AML officer amid enhanced scrutiny
Deutsche Bank named Joe Salama global head of anti-financial crime and group anti-money laundering officer less than a month after its AML controls were criticized by German financial regulator BaFin.
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ArticleDeutsche Bank’s continued AML struggles worth questioning
How is it Deutsche Bank can spend more than $1 billion on compliance enhancements but still be ordered to do more to improve its AML controls? Is the bank to blame or are regulators missing the big picture?
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ArticleDeutsche Bank ordered to further improve AML controls
BaFin, Germany’s market regulator, signaled Deutsche Bank still has more to do concerning previously ordered improvements to its AML compliance controls.
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VideoVideo: Deutsche Bank, Credit Suisse, and combining risk and compliance
Aly McDevitt and Kyle Brasseur assess changes in compliance and risk management functions at Deutsche Bank and Credit Suisse in light of recent scandals at each bank.
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ArticleDeutsche Bank restructures compliance amid leadership overhaul
Deutsche Bank announced a series of changes to its management board, including the upcoming departure of Chief Risk Officer Stuart Lewis and transition of compliance responsibilities to Chief Administrative Officer Stefan Simon.
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ArticleDeutsche Bank to pay $130M to settle bribery, ‘spoofing’ charges
Deutsche Bank has agreed to pay more than $130 million to resolve charges that it paid bribes to third parties to secure business deals in Asia and the Middle East, in addition to a separate commodities fraud “spoofing” case.
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ArticleReports: Ex-EY partner steps aside as Deutsche exec amid Wirecard probe
A former EY partner is reportedly relinquishing his position as Deutsche Bank’s head of accounting temporarily after German prosecutors launched an investigation into his role as a lead auditor for Wirecard.
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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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ArticleDeutsche 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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ArticleBoA 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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ArticleDeutsche 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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ArticleWhat 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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ArticleFirms 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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ArticleAnalysis: 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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ArticleKudos 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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ArticleDeutsche 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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ArticleDeutsche 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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ArticleDeutsche 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.