The Federal Financial Supervisory Authority, or BaFin, announced that it has imposed an administrative fine of EUR 50,000 on Deutsche Bank AG. The fine was imposed because BaFin ascertained that the institution had communicated incorrect information regarding a major customer-relevant IT security incident occurring in the provision of payment services in 2023. Moreover, the bank had informed BaFin of the incident with a significant delay. The administrative fine order is final and binding, BaFin said.
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