FRANKFURT (Reuters) – Germany’s federal financial supervisory authority BaFin said on Monday it had imposed a fine of 50,000 euros ($54,340) on Deutsche Bank.
The fine relates to false information regarding a serious customer-related IT security incident in its payment services in 2023.
Deutsche Bank was also “significantly late” in informing BaFin, the regulator said.
“Deutsche Bank has accepted a fine from BaFin relating to the improper reporting of an IT incident in June 2023, which was resolved within a very short time,” a spokesperson for Deutsche Bank said.
“The bank immediately adapted its processes to prevent such an IT incident from happening again,” the spokesperson added.
($1 = 0.9201 euros)
(Reporting by Emma-Victoria Farr; Editing by Mark Potter)
