We don’t get out of bed for a Deutsche Bank fine of less than $100 million, because really who has the time, and also because anything less is very literally only a drop in the bucket of the $20 billion-plus the other DB has had to part ways with for being naughty over the last few years. There are, of course, exceptions, such as the rare occasion when the bank has done something smart, like settling bribery allegations for $13 million that really should have cost it a lot more than $13 million. Or today’s news that the Deutsches are paying €15 million (more) to settle some (additional) money-laundering allegations. This settlement is notable for two reasons: The first is that the two employees who looked like they might have to go to jail over the whole thing are not, and the second is that the bank would presumably have paid a lot more than €15 million to keep all of those police cars from very publicly surrounding its headquarters.

The bank and the Frankfurt public prosecutor’s office said in statements Friday afternoon that the settlement reflects shortcomings in Deutsche Bank’s compliance and filing of suspicious-activity reports involving German clients connected to offshore accounts from 2015 to 2018….

The investigation had a “heavy impact” on Deutsche Bank last year, spokesman Joerg EIgendorf said in the bank’s statement…. The November 2018 raid in the now-closed Frankfurt investigation rattled investors after images circulated of police cars lined up outside Deutsche Bank’s headquarters. The action involved roughly 170 police officers and other officials who searched six properties, including one employee’s home, authorities said at the time.

Deutsche Bank Agrees to Pay €15 Million in Money-Laundering Probe [WSJ]

Related

trump-deutsche-loan

Deutsche Bank’s Money Laundering Controls Still Need A Touch Of Work

Not that the Federal Reserve is mad about it or anything. Oh, they are?

challenger-deutsche

Deutsche Bank Still Trying, Failing To Figure Out How To Stop Money Laundering

Yes, this headline would apply no matter what you put after “figure out,” but once again we’re talking about this.

deutschefife

It's Difficult To Hear Christian Sewing Brag About Deutsche Bank's Rebirth What With All Those Police Sirens Blaring Outside Deutsche Bank HQ

German police raid Deutsche Bank after realizing that it hasn't been fined for anything in like months.

Rep. Blaine Luetkemeyer opening his early Valentine's Day cards from bank lobbyists. (Rep. Blaine Luetkemeyer)

Banks Ask Congress To In-Source Money Laundering So They Don’t Have To

First on the G.O.P.’s banking agenda in 2018: Making sure banks don’t have to spend their tax savings figuring out who the bad guys are.