BaFin fines Deutsche Bank €23m for failing to comply with AML standards in its derivatives sales and Postbank operations

The sanctions pertain to the bank’s failure to ensure continuity and regularity in investment services, inadequate recording of telephone conversations by its Postbank branch, and lapses in providing account switching services. These violations highlight significant compliance shortcomings within Deutsche Bank’s operations, underscoring the necessity for enhanced internal controls and adherence to regulatory standards…