Bank fined £163m

The UK watchdog the Financial Conduct Authority (FCA) has fined Deutsche Bank AG (Deutsche Bank) £163,076,224. This is the largest financial penalty for anti-money laundering (AML) controls failings ever imposed by the FCA, or its predecessor the Financial Services Authority (FSA). The bank failed to maintain an adequate anti-money laundering (AML) control framework during the period between January 2012 and December 2015, the FCA found.
According to the regulator, Deutsche Bank failed to