We present a complete study of ΔS = 2 and ΔB = 2 processes in a warped extra dimensional model with a custodial protection of ZbLL, including εK, ΔMK, ΔMs, ΔMd, ASLq, ΔΓq, ACP(Bd→ψKS) andACP(Bs→ψϕ). These processes are affected by tree level contributions from Kaluza-Klein gluons, the heavy KK photon, new heavy electroweak gauge bosons ZH and Z', and in principle by tree level Z contributions. We confirm recent findings that the fully anarchic approach where all the hierarchies in quark masses and weak mixing angles are geometrically explained seems implausible and we confirm that the KK mass scale MKK generically has to be at least ∼ 20 TeV to satisfy the εK constraint. We point out, however, that there exist regions in parameter space with only modest fine-tuning in the 5D Yukawa couplings which satisfy all existing ΔF = 2 and electroweak precision constraints for scales MKK ≃ 3 TeV in reach of the LHC. Simultaneously we find that ACP(Bs → ψϕ) and AsSL can be much larger than in the SM as indicated by recent results from CDF and DØ data. We point out that for Bd,s physics ΔF = 2 observables the complex (ZH,Z') can compete with KK gluons, while the tree level Z and KK photon contributions are very small. In particular we point out that the ZdiLjL couplings are protected by the custodial symmetry. As a by-product we show the relation of the RS flavour model to the Froggatt-Nielsen mechanism and we provide analytic formulae for the effective flavour mixing matrices in terms of the fundamental 5D parameters.
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