Commerzbank AG — Ethics Grade C-

Commerzbank AG receives an overall ethics grade of C- (45/100) on CancelCo's corporate accountability database. Sector: Financial Services. Market cap: Large Cap.

Category scores

• labor: 60
• privacy: 45
• consumer: 40
• environment: 55
• humanRights: 50

Documented incidents (3)

• Money Laundering Oversight Failure (high, 2020) — The UK's FCA fined the bank for significant failures in its anti-money laundering controls between 2012 and 2017. The bank failed to perform adequate due diligence on high-risk clients.
• US Sanctions Violations (high, 2015) — The bank paid a massive settlement for processing transactions involving sanctioned entities in Iran, Sudan, and Myanmar. The violations occurred through transparent manipulation of payment records.
• Cum-Ex Dividend Tax Scandal (medium, 2021) — Involved in the wide-ranging 'Cum-Ex' tax fraud scheme where multiple banks claimed tax refunds on capital gains taxes that were never actually paid to the German government.

Documented good deeds

• Sustainable Finance Growth — Increased the volume of sustainable financial products to €300 billion to support the European Green Deal transitioned.

Ethical alternatives

• Triodos Bank — Exclusively finances sustainable enterprises and provides full transparency of every loan made.