The Federal Financial Supervisory Authority (BaFin) has fined Deutsche Bank AG 170,000 euros for delayed submission of suspicious transaction reports. This fine is conclusive and non-negotiable.
Background: Financial institutions must promptly report suspicions of money laundering or terrorist financing to the German Financial Intelligence Unit. Swift reporting allows for immediate action, including sharing information with law enforcement.
Announcement: On March 21, 2023, BaFin issued a binding administrative order under section 56(1) no. 69 of the German Money Laundering Act, imposing five fines totaling 170,000 euros on Deutsche Bank AG. This order is final and cannot be appealed.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}