Deutsche Bank fined €500m by UK and US for Russia 'money-laundering' failings

Deutsche Bank has been fined more than £500 million after British and US regulators found that failings at the German lender led to 10 billion dollars (£7.9 billion) being laundered out of Russia in a manner "highly suggestive of financial crime".

The UK's Financial Conduct Authority (FCA) slapped the bank with a record £163 million penalty for anti-money laundering shortcomings and exposing the UK's financial system to criminal activity.