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Commerzbank says has improved money laundering controls

Credit: REUTERS/RALPH ORLOWSKI

German lender Commerzbank said on Monday that it had strengthened its money laundering controls and reduced its international correspondence banking business.

FRANKFURT, Sept 21 (Reuters) - German lender Commerzbank CBKG.DE 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.

(Reporting by Tom Sims; editing by Thomas Seythal)

((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))

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