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iBitcoin Group Addressing 'Serious Deficits' in Money Laundering Measures Flagged by German Regulator The group reportedly said Wednesday that it has "no indications of violations of money laundering and terrorist financing laws." BaFin, Germany's financial regulator, has ordered a subsidiary of Bitcoin Group (ADE) to address some shortcomings in internal anti-money laundering measures. In a notice issued to the group's Futurum Bank subsidiary in October and posted publicly on Tuesday, the regulator said it had identified "serious deficits" in internal security measures, due-diligence obligations and the suspicious-activity reporting system. Bitcoin Group issued a statement on Wednesday saying it was taking measures to address the deficiencies, Reuters reported. "The Bitcoin Group expressly points out that there are currently no indications of violations of money laundering and terrorist financing laws within the Group," the firm reportedly said. CoinDesk has reached out to Bitcoin Group for comment. Bitcoin Group made headlines last year when it agreed to acquire Munich-based Bankhaus von der Heydt, one of the oldest banks in the world.