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NEWS: Germany launches AML review into finances of Baltic LNG operator, Deutsche ReGas

Premium August 17, 2023

REVIEW: File photo of the logo on the administration building of Bafin, the Federal Financial Supervisory Authority, in Frankfurt am Main, Germany.

NEWS: Germany hosts expert meeting as project to build new AML super agency builds momentum

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DWS to pay $25 mln to end US probe into greenwashing, other issues

The German government is to launch an AML probe into the finances of Deutsche ReGas, the operator of a planned liquefied natural gas (LNG) terminal on the Baltic coast opposed by local authorities. The examination follows a request by a resort town on the island where the two floating plants are to be stationed for…

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NEWS: Germany hosts expert meeting as project to build new AML super agency builds momentum

 Premium

DWS to pay $25 mln to end US probe into greenwashing, other issues

Regulatory Watch News

  • Deutsche Bank Subsidiary DWS to Pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding ESG Investments

    SEC

    Washington D.C., Sept. 25, 2023 —

    The Securities and Exchange Commission today charged registered investment adviser DWS Investment Management Americas Inc. (DIMA or DWS), a subsidiary of Deutsche Bank AG, in two separate enforcement actions, one addressing its failure to develop a mutual fund Anti-Money Laundering (AML) program, and the other concerning misstatements regarding its Environmental, Social, and Governance (ESG) investment process. To settle the charges, DIMA agreed to pay a total of $25 million in penalties.

  • Dumb Money: FCA takes new approach to cinema advertising and premieres innovative advert ahead of Hollywood’s chronicle of GameStop saga

    Financial Conduct Authority

    FCA advert references online forum chats to raises awareness of hype in high-risk investments.
    • ‘Dumb Money’ tells the story of the notorious 'David vs. Goliath' battle resulting in huge speculative investments in video game retailer GameStop in early 2021.
    • The FCA’s advert will play during the 'Gold Spot' directly before the main feature, drawing on sensory techniques to pull viewers in with an apparent 'once in a lifetime investment opportunity'.
    • It will be supported by digital screens in cinemas and display banners to encourage better-informed investment decisions as part of the FCA’s InvestSmart campaign.

  • AFP saves mum and dad business from cyber criminals

    Australia Federal Police

    The AFP has returned $45 million to Australian businesses targeted by cyber criminals in the past three years. As the AFP today challenges the incorrect belief that once a person has lost their money to cyber criminals they will never get it back, new case studies will be revealed to show how investigators were able to thwart onshore and offshore cyber criminals from scamming Australian businesses.

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