The post DWS Fined $25m for Anti-money Laundering and Disclosure Failures! appeared first on Coinpedia Fintech News
Deutsche Bank subsidiary DWS Investment Management Americas has been fined $25m by the Securities and Exchange Commission (SEC) due to a lack of adequate anti-money laundering policies. The SEC also accused DWS of inaccurate disclosures regarding its environmental, social and governance practices. The bank was accused of “causing mutual funds it advised to fail to develop and implement a reasonably designed AML program” pursuant to its obligations under the Bank Secrecy Act and Financial Crimes Enforcement Network rules. Its failure was described by a regulator as a “basic duty”.
Source: https://coinpedia.org/crypto-live-news/dws-fined-25m-for-anti-money-laundering-and-disclosure-failures/