Commerzbank says has improved money laundering controls

Commerzbank was reacting to a report by Buzzfeed that it, along with other global banks, had moved allegedly illicit funds despite red flags. (AFP)

• Lender reacts to Buzzfeed report it, along with other global banks, had moved allegedly illicit funds despite red flags

FRANKFURT: German lender Commerzbank said on Monday that it had strengthened its money laundering controls and reduced its international correspondence banking business.
The bank was reacting to a report by Buzzfeed that Commerzbank, along with other global banks, had moved allegedly illicit funds despite red flags.