A history of fines and high risk for more continue to plague Deutsche Bank
From 2017 to 2021, Deutsche Bank has paid approximately $9.0 billion in fines to various regulatory bodies. These include the $7.2 billion payment to the Department of Justice for money laundering offenses in 2017. In January of 2021, the bank paid the DOJ and SEC $122.9 million for record and bookkeeping violations of the Foreign Corrupt Practices Act while paying bribes to overseas consultants and commodity trading violations. The bank then violated this DOJ settlement after a whistleblower revealed the misuse of ESG metrics for analyzing companies. DOJ reserves the right to take further action against Deutsche per the 2021 settlement.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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