The Federal Reserve has issued a fresh rebuke over Deutsche Bank AG's money-laundering controls, according to a person familiar with the situation.

The Fed's move comes as Deutsche Bank tries to prove to investors and regulators that it is cleaning up its act under an overhaul that started last year. The bank posted a huge loss in 2019 but reported better-than-expected results in the first quarter, sticking to cost-cutting goals and a plan to streamline its businesses.