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German watchdog asks Deutsche Bank to take actions to prevent money laundering

Silvia Amaro

BaFin, the German financial watchdog, has announced the appointment of a special advisor to oversee whether Deutsche Bank takes effective measures to stop illegal money transfers. Deutsche Bank's share price is down about 35 percent since the start of the year. German regulators have ordered Deutsche Bank DBK-DE to take internal actions to prevent money laundering, a few weeks after a scandal erupted in Danske Bank.