NY Fed fines Deutsche Bank $41 million for anti-money laundering failures

Economy
© Reuters. FILE PHOTO: Workers sweep leaves outside Deutsche Bank offices in London© Reuters. FILE PHOTO: Workers sweep leaves outside Deutsche Bank offices in London

WASHINGTON (Reuters) – The Federal Reserve on Monday fined Deutsche Bank AG (DE:) $ 41 million for failing to ensure its systems would detect money laundering regulations and it said the lender agreed to increase its controls.

The New York Fed found that the German bank had faulty systems to detect suspicious transactions between 2011 and 2015, the central bank said in its filing.

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