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Banks in Germany must scrutinize correspondent clients and transactions more thoroughly and cease outsourcing anti-money laundering tasks to third parties in high-risk jurisdictions, BaFin, the nation's primary financial supervisor ordered in new guidance. With less than five months to go before a global review of Germany's AML framework,  federal authorities are still working to close loopholes revealed by the massive accounting fraud that tanked Wirecard and the seemingly perpetual series of violations committed by its banking champion, Deutsche Bank, which is accumulating fines around the world. The 23-page document BaFin published June 8 goes far towards clarifying the regulator's heightened...