Brief: Regulator Says Grenke Bank Must Remedy Deficiencies In Money Laundering Prevention

Grenke AG

06/09/2024 09:12

Sept 6 (Reuters) - 
  
    * GERMANY'S BAFIN: GRENKE BANK AG MUST REMEDY DEFICIENCIES
IN THE
PREVENTION OF MONEY LAUNDERING WITHIN TWELVE MONTHS
    * BAFIN: TWO SPECIAL AUDITS AND THE 2023 AUDIT OF THE ANNUAL
FINANCIAL STATEMENTS OF GRENKE BANK HAVE SHOWN THAT THE BANK
DOES NOT COMPLY IN PART WITH THE REQUIREMENTS OF THE GERMAN
BANKING ACT (KWG) AND THE GERMAN ACT ON THE TRACING OF PROFITS
FROM SERIOUS CRIMES (GWG)
    * BAFIN: THE DECISION IS FINAL
    * GRENKE SPOKESPERSON: TAKES BAFIN STATEMENT VERY SERIOUSLY
AND
ANY DEFICIENCIES AT GRENKE BANK WILL BE REMEDIED IMMEDIATELY

Source text for Bafin statement (in German): https://tinyurl.com/3za6cenp

 (Berlin newsroom)
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