Posts Tagged ‘Deutsche Bank’
Deutsche Bank Control Failures Cost $130M
You may have missed this while watching the coup attempt, but Deutsche Bank settled FCPA charges last week with $130 million in penalties and disgorgement, a three-year deferred-prosecution deal, and lessons a-plenty about the perils of leaving internal control duties with operations executives in the First Line of Defense. The settlement was announced Friday afternoon.…
Read MoreDeutsche Bank’s Misconduct: Naming Names
We have a follow-up to last week’s news about Deutsche Bank and its many compliance failures that allowed convicted sex trafficker Jeffrey Epstein to remain a client for years: the New York Times has identified several executives, including one of the bank’s senior compliance officers, involved in those decisions. New York banking regulators hit Deutsche…
Read MoreDeutsche Bank’s Many Epstein Failures
New York banking regulators hit Deutsche Bank with a $150 million penalty Tuesday for its business dealings with notorious sex trafficker Jeffrey Epstein, and painted a damning picture of compliance failures that went on for years at the bank while it reaped millions from such a lucrative customer. The New York Department of Financial Services…
Read More