16:27 - 20.07.2023
July 20, Fineko/abc.az. The U.S. Federal Reserve System (FRS), acting as the country's central bank, has fined Germany's largest financial institution Deutsche Bank for $186 million for financial violations.
ABC.AZ reports with reference to Fed’s relevant statement that the fine was imposed for "unsafe banking transactions" and non-compliance with previously agreed measures in relation to "combating money laundering". Fed officials found that Deutsche Bank had not taken sufficient action to fix some of the problems.
Bank’s reps stated "they have significantly improved the monitoring of transactions, and have also invested significant funds in control mechanisms since 2019, increasing the number of the team to combat financial crimes by 25% up to more than 2,000 employees".
