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In 2021, which bank was fined $400 million for failing to maintain adequate anti

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Question: In 2021, which bank was fined $400 million for failing to maintain adequate anti-money laundering controls?

Options:

  1. Wells Fargo
  2. Deutsche Bank
  3. Citigroup
  4. Barclays

Correct Answer: Deutsche Bank

Solution: 

Deutsche Bank was fined $400 million for inadequate anti-money laundering controls.

In 2021, which bank was fined $400 million for failing to maintain adequate anti

Practice Questions

Q1
In 2021, which bank was fined $400 million for failing to maintain adequate anti-money laundering controls?
  1. Wells Fargo
  2. Deutsche Bank
  3. Citigroup
  4. Barclays

Questions & Step-by-Step Solutions

In 2021, which bank was fined $400 million for failing to maintain adequate anti-money laundering controls?
  • Step 1: Understand what the question is asking. It wants to know which bank was fined in 2021.
  • Step 2: Recall the information about fines related to banks in 2021.
  • Step 3: Identify the bank that was fined for not having good anti-money laundering controls.
  • Step 4: Confirm that the bank fined was Deutsche Bank.
  • Step 5: Note the amount of the fine, which was $400 million.
  • Anti-Money Laundering (AML) Regulations – Regulations designed to prevent the practice of generating income through illegal actions.
  • Banking Compliance – The requirement for banks to adhere to laws and regulations governing financial practices.
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