Top German banks form venture to fight financial crime

FRANKFURT, Nov 11 (Reuters) - Germany's Commerzbank, Deutsche Bank and the nation's savings banks said on Wednesday that they were forming a joint venture to fight financial crime.

• The project allows banks to share information and data on potential fraud to detect it at an earlier stage, the banks said.

• "Perpetrators frequently use accounts at multiple banks and transfer funds between different institutions within a short period of time. Individual banks have so far generally only seen part of the overall picture," they said.

(Reporting by Tom Sims, editing by Thomas Seythal)