German market regulator BaFin late last month instructed Deutsche Bank to do more to comply with applicable anti-money laundering (AML) laws and regulations. In doing so, BaFin expanded the mandate of a monitor it placed at the bank nearly three years ago.
The action comes after Deutsche Bank remarked in January that it has spent more than €1 billion (U.S. $1.2 billion) on compliance enhancements over the last several years. Further, the bank increased its anti-financial crime team to more than 1,600 employees globally.
