Sharp criticism of control systems of Deutsche Bank – Reuters Germany

Frankfurt the German bank has to pressure the British Financial Services upgrade their defenses against money laundering and sanctioning violations.

After a routine examination last year, the Financial Conduct Authority (FCA) has the money home accused major failings as more familiar with the process people confirmed on Monday , The “Financial Times” had previously quoted from a letter of FCA at Germany’s biggest money home. “At Deutsche Bank in the UK, there were serious systemic deficiencies to prevent money laundering, terrorist financing and sanctioning violations,” it said. High-level managers had neglected the fight against financial crime long time.

“We know how important this issue is, and are committed to fixing defects “, the German bank said. The money home working with the authorities and was about to renew its control systems fundamentally. German Bank Manager Werner Steinmueller has it announced major investments in October, 2015. “The requirements in this area has been observed worldwide – this is for all banks a big challenge,” he said at the time in the Reuters interview. Just the Bank is upgrading the anti-money laundering system Mantas in the US, Frankfurt and London, a spokesman said. But they’ll have a double-digit million euro sum in hand.

The German bank is due to a worldwide series of scandals in the sights of the authorities. Last year, the Institute was given for violations of US sanctions, a fine of $ 258 million aufgebrummt. A higher penalty threatens the bank according to estimates by insiders for misconduct in Russia. The Frankfurter Customers investigators According helped to wash ruble black money in the amount of ten billion dollars. The money home see a good chance to check off the affair promptly, say two familiar with the operation persons Reuters.

German Bank CEO John Cryan has declared the strengthening of the control systems by taking office in the summer of 2015 a priority. After talking with the FCA, he announced in November at two emergency measures. In more than 100 countries with a higher risk, the addition of new customers has been suspended. In addition, in principle should only business is done, when the review of customers (Know Your Client, KYC) is complete. Previously ran businesses and the KYC process often parallel.