Fed Fines Deutsche Bank $186 Million For Anti-Money Laundering Violations
- The U.S. Federal Reserve fined Deutsche Bank $186 million for failing to address regulatory concerns about money laundering controls.
- Deutsche Bank did not resolve issues from previous 2015 and 2017 consent orders related to risk management and anti-money laundering deficiencies.
- The Fed said Deutsche Bank had insufficient internal controls over its past relationship with Danske Bank's Estonian branch.
- The Fed imposed additional restrictions on Deutsche Bank, requiring improvements in risk management, data management, governance and controls.
- The fine was announced by the Fed on Wednesday and reported by Reuters.
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