Fed fines Deutsche Bank $186M over historic sanctions, AML lapses
By 
Kyle Brasseur2023-07-19T20:45:00
The Federal Reserve Board fined Deutsche Bank $186 million regarding violations of previous consent orders addressing alleged sanctions and anti-money laundering (AML) weaknesses and control failures relating to the bank’s relationship with Danske Bank’s Estonia branch.
The penalty, levied against Deutsche Bank, its New York branch, and other of its U.S. affiliates, is comprised of two parts. Deutsche Bank was fined more than $140 million regarding its alleged violations of the sanctions and AML orders and $46.2 million regarding its relationship with Danske Estonia, the Fed detailed in a consent order published Wednesday.
The Fed also announced a separate written agreement with Deutsche Bank, in which the bank consented to submit plans to enhance its governance, risk management, and controls.
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