For several years now, regulators from all over the world have told Deutsche Bank, On And the On And the On Again, fairly politely, to get rid of money laundering. However, everywhere It looks likeAnd the that they You find More Capital laundry.
Now, we know nothing about you, but it seems to us that telling Deutsche Bank not to launder money anymore, in any tone of voice, doesn’t seem to work. This is possibly more serious measures than Fines or Babysitters or strict talkers May be in order. But we are not the German financial regulatory authorities and we lack them An unmistakable feeling of how to eliminate trouble in its infancy.
In 2018, BaFin took the unusual step of installing the KPMG auditor as a private screen in Deutsche to oversee progress in money laundering controls … Now, BaFin is expanding the mandate of KPMG.
BaFin said in a brief statement that it wanted to improve controls especially with regard to “regular customer reviews”, which also apply to correspondent banks and transaction monitoring.
Well if it doesn’t work for three years, then definitely the fourth – with the feeling – with doing it.
Germany asks Deutsche Bank to do more to prevent money laundering [Reuters via CNBC]