(Bloomberg) -- Germany’s financial regulator again refreshed its criticism of the slow progress Deutsche Bank AG has made on addressing deficiencies in its prevention of money laundering.

The latest order, which threatens fines, relates to the bank’s systems for processing transaction data and it has been in effect since late last year, BaFin said in a statement on Thursday. The watchdog also extended the mandate of a monitor in charge of overseeing the lender’s efforts on the matter, indicating it is not satisfied. 

The renewed critique is a setback for Deutsche Bank Chief Executive Officer Christian Sewing, who said earlier this month that the bank has reached an “inflection point” on costs including spending on controls. At the time, Sewing said that should enable him to achieve substantial expense reductions over the coming year.

Mounting costs around controls were a key reason why Sewing previously missed several of his savings targets. 

Read More: Deutsche Bank’s Renewed Bid to Fix Controls Drives Cost Misses

“There are no new findings in the order” from BaFin, a Deutsche Bank spokesman said by email. “We will continue to fully cooperate with BaFin and invest the necessary resources to implement these measures within the deadline.”

The BaFin monitor will continue in its function until the end of October, the authority said, without identifying the firm or individuals carrying out the work. The initial appointment was made in 2018, an unprecedented step for the German regulator at the time.

(Adds context about costs in fourth paragraph and Deutsche Bank statement in fifth paragraph)

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