Deutsche Bank to invest more to prevent money laundering

Deutsche Bank - Foyer Bridge

Deutsche Bank plans to invest more in technology to prevent money laundering, according to the head of the division that processes its transactions.

Reuters reports that the bank was hit by a scandal over suspected money laundering at its Moscow office over the summer and last month said it was closing part of its business in Russia as part of a review of its global structure.

It has also yet to settle with U.S. authorities over alleged sanctions-related violations, following investigations of peers like Commerzbank and Societe Generale for moving funds through the U.S. financial system for countries such as Iran and Sudan.

To access the complete Reuters article hit the link below:

Deutsche Bank to invest more to prevent money laundering - executive

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