German regulator withdraws Deutsche Bank monitor, reports Welt
Adds details, background
BERLIN, Nov 28 (Reuters) -German regulator BaFin has withdrawn aspecial monitor at Deutsche Bank DBKGn.DE who was installedafter the bank had not remedied deficiencies in money-laundering controls, the Welt newspaper reported on Thursday, citing financial sources.
In February, BaFinextended the mandate of the monitor, in place since 2018,to October 2024 and threatened to fine the lender if the bank didn't improve deficiencies that it found in transaction monitoring.
At the time, the bank, which is Germany's largest and has periodically run into compliance issues with regulators over the years, said it was cooperating and investing resources.
Deutsche Bank and BaFin did not comment on Thursday's report.
Another special monitor appointed in October 2023 to oversee Deutsche Bank's handling of consumer service problems at its Postbank unit is still active, according to Welt.
Reporting by Frank Siebelt, writing by Miranda Murray, editing by Thomas Seythal
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