Germany's financial regulator BaFin has withdrawn the special anti-money-laundering monitor it had imposed on Deutsche Bank, ending a supervisory arrangement that had been in place since 2018, German newspaper Welt reported. The termination, reported on 28 November 2024, marks the conclusion of a multi-year compliance remediation effort at Germany's largest bank.
The AML monitor was installed after BaFin identified deficiencies in Deutsche Bank's transaction monitoring systems.
MONITOR MANDATE ENDS
The monitor's mandate had previously been extended until October 2024. BaFin and Deutsche Bank both declined to comment on the report.