updates
suspicion of money laundering
Raid on Deutsche Bank
4/29/2022, 1:14 p.m
There is a raid at the Deutsche Bank. Officials from the public prosecutor’s office in Frankfurt, the Federal Criminal Police Office and the financial supervisory authority Bafin examine the rooms of the money house. The stock reacts promptly.
Investigators have searched the headquarters of Deutsche Bank in Frankfurt. There was a search warrant from the Frankfurt district court, the public prosecutor said. A spokesman for Deutsche Bank said the investigations are related to reports of suspected money laundering that the institute itself submitted. The institute cooperates fully with the authorities. The money house did not name the context in which the suspicion of money laundering arose, who is affected or what the possible financial scope of the case is. Deutsche Bank shares extended their losses.
According to the public prosecutor’s office, officials from the Federal Criminal Police Office (BKA), the financial supervisory authority BaFin and the Frankfurt public prosecutor’s office were involved in the raid. The public prosecutor’s office did not give any further details, citing ongoing investigations. The financial regulator Bafin declined to comment.
Deutsche Bank has made headlines in the past for money laundering cases. She was repeatedly confronted with criticism that she had inadequately checked certain transactions or customers. Finally, in 2018, the financial supervisory authority Bafin even appointed a special representative to Germany’s industry leader to better check the implementation of prescribed measures.
After another rebuke from supervisors last year, the institute had replaced the head of anti-money laundering. CEO Christian Sewing pledged greater efforts in the fight against financial crime and announced significant investments in technology, especially in systems to fight financial crime.