FIRST AIRED: January 31, 2017

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>> Much like buses, you wait ages for one and several arrive at the same time. That's the way it may seem at Deutsche bank, it's just been thumped with two more fines totaling $630 million. US and UK regulators say the German bank failed to prevent around $10 billion in suspicious trades being laundered out of Russia.
>> Deutsche Bank itself had provisioned around a billion euros for this, so the fact that it came in less than that was a big relief for them. However, the reports which came out about how these misdoings had happened will be worrying to investors because it exposed a whole series of weaknesses in Deutsche Bank's internal controls.
>> For the UK's part, Britain's Financial Conduct Authority said the bank's actions were highly suggestive of financial crime. Its $204 million fine was its largest financial penalty yet for anti-money-laundering control failings.>> Deutsche Bank says it has taken steps already to address those failings. It's got a lot more people checking transactions it's making.
All its processes in terms of checking who the bank is doing business with. It's been tightened up a lot. But people are likely to be worried that Deutsche Bank will need to do more and to do more they need to spend more.>> But at least there was no talk of possible bailouts.
There was ahead of the last $7.2 billion agreement with the US Department of Justice with mis selling mortgaged backed securities.