The US Federal Reserve Board has fined Deutsche Bank a total of US$186 million and ordered it to improve its sanctions and anti-money laundering (AML) systems.

The fine is a result of the bank’s failure to respond sufficiently to two enforcement actions in 2015 and 2017 against the bank’s New York branch and several of its US affiliates in relation to sanctions violations and internal controls failures, as well as unsafe and unsound AML practices.

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