Deutsche Bank’s regulators in the United States have criticized the German lender in an internal audit for weaknesses in fighting money laundering and in risk management, according to a German newspaper on Wednesday.
The paper, Sueddeutsche Zeitung, said the bank has 90 days to respond to the audit, which was sent to Deutsche management at the end of March by the Federal Reserve Bank of New York.
The bank’s chief executive, Christian Sewing, said in a speech published on Tuesday that the bank had made progress in improving its controls but had room for improvement. “We must continue to improve here and to invest in our processes – in close contact with our regulators,” he said.