HALISTER1: Deutsche Bank Financial-Crime Controls Faulted by U.K. FCA: FT

Deutsche Bank Financial-Crime Controls Faulted by U.K. FCA: FT

(Bloomberg) -- Financial Conduct Authority criticized bank’s ability to monitor customers, noting 37 of 42 client files reviewed “did not meet legal and regulatory requirements,” FT says, citing March 2 letter to Deutsche Bank.
  • FCA also faulted Deutsche Bank’s IT infrastructure, and called the bank’s transaction monitoring outdated, FT says
  • U.K. regulator said its concerns about the bank’s controls against money-laundering, terrorist financing and sanctions were “consistent with those” found in Deutsche Bank’s internal probe into transactions by its Russian business: FT
  • NOTE: Earlier, Deutsche Bank to Stick With Interest-Rate Scandal Probes: WamS
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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DBK GR (Deutsche Bank AG)
0761959D LN (Financial Conduct Authority)

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