A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. BaFin said Monday (April 11) that the bank failed to update customer data on time and did not provide sufficient security measures, Reuters reported. This, the report added, led to inadequate due diligence in three cases, which meant that the bank had violated its anti-money laundering (AML) obligations. “Commerzbank AG and the former comdirect Bank AG, of which Commerzbank AG is the universal su ...