Op risk data: Chronic corruption charges cost Deutsche dear
Also: Wells Fargo fee fight; Nasdaq queers Emir reg; Covid keeps AML fines in line. Data by ORX News
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Deutsche Bank will pay $123 million to settle a Department of Justice (DoJ) investigation into corrupt payments and bribes – actions that notoriously included cartoon caper-style transfers of cash in manila envelopes – in a co-ordinated resolution with the Securities and Exchange Commission (SEC). The fine represents January’s largest loss.
Between 2009 and at least 2016, the bank falsely concealed bribes that had
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