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Deutsche Bank Says Software to Detect Money Laundering Had a Bug
11–20 of 127 posts
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#12Bug or feature? Also, wonder how they're verifying "The bank maintained that no suspicious transactions had slipped through as a result."
Maybe they called all their "fishy" friends to confirm they caught all their bad stuff?
More seriously, the background seems to be that DB has poor controls overall, so likely this tagger was simply combined with something too permissive and the error ends up not mattering very much.
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#13It would be interesting to know what the bug is. I can't translate the German site as I can't really get to it due to a popup. A math problem, just not checking some transactions, something else?
It doesn't give any specifics. "2 of 121 parameters were configured incorrectly". Maybe host and port? ;)
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#14I see some similarities here between VW Dieselgate and DB. Must be a German thing :)
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#15It would be interesting to know what the bug is. I can't translate the German site as I can't really get to it due to a popup. A math problem, just not checking some transactions, something else?
"In one of these applications, two of the 121 parameters were not defined correctly. What the exact parameters are, the speaker did not want to say." Is all the further information in the German article.
Which resulted in an incomplete second check of payments.
(Just to add the other small part.)
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#16This is news?! All software has bugs. NYTimes is taking advantage of the general public’s ignorance of this fact to imply something sinister. Without additional information - such as it specifically targeted certain transactions - that is misleading.
Remember this when you read articles about subjects you are not knowledgeable about.
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#17Subjectively it feels like NYT publishes a lot more negative articles about Deutsche Bank than about any other bank, or at least those articles get upvoted much more frequently here. Does anyone know what's up with that? I would've assumed that most banks are equally terrible.
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#18It would be interesting to know what the bug is. I can't translate the German site as I can't really get to it due to a popup. A math problem, just not checking some transactions, something else?
"In one of these applications, two of the 121 parameters were not defined correctly. What the exact parameters are, the speaker did not want to say." Is all the further information in the German article.
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Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#19Subjectively it feels like NYT publishes a lot more negative articles about Deutsche Bank than about any other bank, or at least those articles get upvoted much more frequently here. Does anyone know what's up with that? I would've assumed that most banks are equally terrible.
Trump did a majority of his deals with them and both entities grew with each other. A lot of the deals had override approvals without a lot of review.
A link I posted earlier in this thread - https://www.nytimes.com/2019/03/18/business/trump-deutsche-b... provides more on this.
Re: Deutsche Bank Says Software to Detect Money Laundering Had a Bug
#20Subjectively it feels like NYT publishes a lot more negative articles about Deutsche Bank than about any other bank, or at least those articles get upvoted much more frequently here. Does anyone know what's up with that? I would've assumed that most banks are equally terrible.
Deutsche Bank is somewhat notable from a political standpoint; Donald Trump got loans there after no other banks would work with him, and retired SCOTUS justice Anthony Kennedy's son worked there.