Deutsche Bank on Tuesday named Joe Salama global head of anti-financial crime (AFC) and group anti-money laundering (AML) officer. Salama will succeed Stephan Wilken, who has served in this role since October 2018.
The appointment of Salama, who currently serves as global head of litigation and regulatory enforcement and general counsel for the Americas, comes less than a month after Deutsche Bank was criticized by German financial regulator BaFin regarding its AML controls. BaFin, which expanded the mandate of a monitor it assigned Deutsche Bank in 2018, ordered the bank to “adopt further appropriate internal safeguards” and continue improving compliance with due diligence obligations, particularly regarding customer reviews.
