Germany Orders Deutsche Bank to Take Further Steps in Combatting Money Laundering

BaFin, Germany's financial regulator, has ordered Deutsche Bank to take new anti-money laundering steps, BaFin said on Friday, delivering a blow to the country's largest lender as it tries to regain reputation.

Deutsche Bank has been attempting to turn a new leaf under the guidance of Chief Executive Officer Christian Sewing by returning profits and its image after a series of misdeeds.

BaFin said in a separate emailed statement that it sought to “bring about sustainable improvements in money laundering prevention at Deutsche Bank.”

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