Deutsche Bank has agreed to pay almost $630 million after regulators in the US and the UK warned the German lender about failings in its anti-money laundering controls and raised questions about so-called mirror trades that transferred $10 billion out of Russia.

The UK's Financial Conduct Authority hit Deutsche Bank with a £163 million fine, according to a January 31 statement, while a penalty imposed by the New York Department of Financial Services amounted to $425 million, according to a separate statement published on January 30.