BaFin dings Deutsche Bank $180K over SARs filing delays
By 
Kyle Brasseur2023-10-20T17:45:00
Deutsche Bank was assessed a penalty of 170,000 euros (U.S. $180,000) by Germany’s financial supervisory authority for failing to timely submit suspicious activity reports (SARs).
BaFin announced the fine Thursday, noting the reports related to suspected money laundering. The fine total was comprised of five penalties, as determined in the regulator’s March decision.
A link to BaFin’s decision could not be found on its website.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefN26 fined $9.6M for not timely filing AML reports to BaFin
Germany’s financial supervisory authority issued a fine of €9.2 million euros against mobile bank N26 for “systematically” submitting late anti-money laundering reports.
-
News BriefDeutsche Bank dinged $54K over IT incident reporting
Deutsche Bank was assessed a penalty of €50,000 (U.S. $54,000) by Germany’s financial supervisory authority for its alleged miscommunication of a 2023 information technology security incident.
-
News BriefDeutsche Bank refreshes compliance leadership with new group CCO
Deutsche Bank named Laura Padovani to be its next group chief compliance officer and head of compliance, effective April 1. She will replace Pascal Tagné, who will become the bank’s head of compliance for the Asia Pacific region.
More from Regulatory Enforcement
-
ArticleDOJ makes good on corporate-friendly enforcement policy with Balt resolution
The ink was barely dry on the U.S. Department of Justice’s new corporate enforcement policy (CEP) when the agency announced it would not prosecute Balt SAS for alleged bribery violations.
-
ArticleBoA settles class-action related to its dealings with Jeffrey Epstein
Bank of America has agreed to settle a class-action lawsuit alleging know-your-customer and other failings in its dealings with convicted sex offender Jeffrey Epstein.
-
News BriefSEC’s Uyeda: ‘Enforcement is the wrong way’ to handle off-channel communications
The U.S. Securities and Exchange Commission’s Mark Uyeda told an audience of investment advisers that the SEC will no longer prioritize stand-alone enforcement actions for violations of the SEC’s rules on off-channel communications.