September 24, 2018 / 1:09 PM / in 22 days

Deutsche Bank ordered to take money laundering prevention measures

FRANKFURT, Sept 24 (Reuters) - Germany’s financial watchdog BaFin has ordered Deutsche Bank to take measures to prevent money laundering and “terrorist financing”, BaFin said on Monday.

BaFin said it had appointed a “special representative” to report and assess progress.

Deutsche Bank said in a statement that it agrees with BaFin that “we have to improve” processes to properly identify clients.

Reporting by Tom Sims, Editing by Tassilo Hummel

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