- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-05-02T14:29:00
Deutsche Bank confirmed its Frankfurt headquarters were raided by German prosecutors in relation to a money laundering probe regarding suspicious activity reports filed by the bank.
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Deutsche Bank was assessed a penalty of €170,000 (U.S. $180,000) by Germany’s financial supervisory authority for failing to timely submit suspicious transaction reports.
The Federal Reserve Board fined Deutsche Bank $186 million regarding violations of previous consent orders addressing alleged sanctions and anti-money laundering weaknesses and control failures relating to the bank’s relationship with Danske Estonia.
Deutsche Bank said it is about “two-thirds” of the way toward meeting Germany’s financial regulator’s demands for tighter controls to combat money laundering and terrorist financing—an area of weakness many banks across the European Union are confronting.
Financial services firm Cantor Fitzgerald will pay a $6.75 million fine to the Securities and Exchange Commission for making misleading statements regarding two special purpose acquisition companies that it controlled.
A lack of supervision and internal controls at Morgan Stanley Smith Barney allowed four of its investment advisers to steal millions from customers before the behavior was detected, the SEC said in charging the firm.
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
