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NEWS: Germany’s Commerzbank fined €1.45M for AML failings at subsidiary

A company logo is pictured at the headquarters of Germany's Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski

By AML Intelligence Correspondent GERMANY’S regulator today fined Commerzbank AG €1.45M for AML failings. The fine from Bafin relates to Commerzbank subsidiary, Comdirect Bank which was found to have “violated its supervisory obligations.” According to BaFin, the bank did not update customer data on time and did not provide proper security measures, which resulted in…

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