The Financial Conduct Authority has fined Deutsche Bank AG just over £163 million for its failure to maintain an adequate anti-money laundering (AML) control framework from the start of 2012 to the end of 2015. This is the largest penalty for AML control failings imposed by the FCA or its predecessor (the FSA). A copy of the FCA's decision notice is available here (pdf).
Tuesday, 31 January 2017
UK: FCA imposes largest ever penalty for anti-money laundering control framework failings
The Financial Conduct Authority has fined Deutsche Bank AG just over £163 million for its failure to maintain an adequate anti-money laundering (AML) control framework from the start of 2012 to the end of 2015. This is the largest penalty for AML control failings imposed by the FCA or its predecessor (the FSA). A copy of the FCA's decision notice is available here (pdf).
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