Apparently suspected of money laundering: Investigators search Deutsche Bank

Status: 04/29/2022 13:18

Investigators from the Frankfurt prosecutor’s office searched Deutsche Bank in the morning. The Public Prosecutor’s Office initially declined to comment on the reasons.

There was a raid on Deutsche Bank today. Officials from the Frankfurt public prosecutor’s office, the Federal Criminal Police Office and the financial supervisory authority BaFin searched the premises of the money house in the morning, the Frankfurt judiciary announced. In the background is a search warrant from the Frankfurt district court. Further information could not be provided “due to ongoing investigative measures,” a spokesperson said upon request

Deutsche Bank itself said through a spokesperson that the investigation was linked to reports of suspected money laundering submitted by the institution. The institute cooperates “fully with the authorities”. No further details were initially known. According to initial media reports on the raid, the share lost significantly and dropped by more than three percent to € 9.37.

In 2018, there was a money laundering charge

In 2018 there had already been searches at the largest German bank for suspected money laundering in relation to the so-called “Panama Papers”. At the time, there were suspicions that the bank had helped clients set up offshore companies in tax havens. The procedure ended in 2019 with a fine of € 15 million for Deutsche Bank which did not promptly submit suspicious activity reports for money laundering.

The “Panama Papers” are classified documents that an international research network published in the spring of 2016. The documents revealed a network of shell companies in Panama set up by the Panamanian law firm Mossack Fonseca that politicians, sports officials, billionaires, celebrities and criminals around the world used to evade taxes in their home countries.

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