German regulators require Futurum Bank to address certain deficiencies in its internal anti-money laundering measures

ChainCatcher news, according to CoinDesk, Germany's financial regulator BaFin has requested that Futurum Bank, a subsidiary of the ADE Group, address some deficiencies in its internal anti-money laundering measures. The regulator found "serious deficiencies" in the subsidiary's internal security measures, due diligence obligations, and suspicious activity reporting systems.

The ADE Group stated on Wednesday that it is taking steps to address these deficiencies. "There are currently no indications that there are violations of money laundering and terrorist financing laws within the group."