Deutsche Bank to pay $258 mn for violating US sanctions

German banking giant Deutsche Bank will pay $258 million in fines for doing business with US-sanctioned countries like Iran and Syria, US regulators said Wednesday.

“The firm did not have sufficient policies and procedures to ensure that activities conducted at its offices outside of the United States complied with US sanctions laws,” said the Federal Reserve, which announced the penalties along with the New York State Department of Financial Services.

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