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Deutsche Bank reports show chinks in money laundering armour

Reuters  |  FRANKFURT 

By Edward Taylor, Tom Sims and John O'DonnellFRANKFURT (Reuters) - Deutsche Bank has uncovered shortcomings in its ability to fully identify clients and the source of their wealth, internal documents seen by Reuters show, more than a year after it was fined nearly $700 million for allowing money laundering.In two confidential reviews, dated June 5 and July 9, Germany's biggest lender detailed the results of tests on a sample of investment bank customer files in several countries, including Russia.Both reviews found gaps in Deutsche's screening process, which aims to meet so-called "Know Your ...

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First Published: Fri, August 03 2018. 13:48 IST