Deutsche Bank Fined by Prosecutors in Danske Bank Probe (1)

Deutsche Bank AG was fined 13.5 million euros ($16 million) by Frankfurt prosecutors over money-laundering violations related to work with Danske Bank A/S.

The bank failed on more than 600 occasions to file timely alerts to authorities about suspicious transactions, Frankfurt prosecutors said in a statement Tuesday. A related criminal probe against bank employees was dropped because no criminal action was found, they said.

The case is linked to a scandal that saw more than $200 billion in suspicious transfers made through Danske Bank’s Estonian unit. The vast majority of the money was also routed through Deutsche Bank, which at ...