FCA issues largest AML fine

FCA has fined Deutsche Bank £163 million, the largest fine it has imposed for AML failings. It found the bank failed to maintain an adequate AML framework from the beginning of 2012 to the end of 2015, the result of which was that unidentified customers used the bank to transfer around $10 million of finds of unknown origin from Russia to offshore bank accounts. See our detailed description of the failings and the fine here.

%d bloggers like this: