Commerzbank says has improved money laundering controls

FRANKFURT (Reuters) – German lender Commerzbank 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)