By Max Bernhard 
 

Germany's financial watchdog said Monday that it has ordered Deutsche Bank AG (DBK.XE) to install internal safeguards to prevent money laundering and terrorist financing.

The Federal Financial Supervisory Authority, or Bafin, said it had also appointed a special representative to report on and assess the progress of the implementation of those measures.

The news comes only days after Danish authorities reopened investigations into a Russia-linked money laundering case involving Danske Bank a/s (DANSKE.KO). The Danish lender admitted to letting $233 billion move through a single Eastern European branch.

A large proportion of those transactions are suspected to have been laundered money in what is one of the biggest money laundering scandals in Europe to date.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

September 24, 2018 09:22 ET (13:22 GMT)