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Raid on the Deutsche Bank: the Frankfurt public prosecutor's office and the Federal Office of the Criminal Police raided Thursday the commercial premises of the largest bank in the country. The reason is investigations into suspicions of money laundering, the Frankfurt prosecutor's office said. About 170 public prosecutors, the Federal Criminal Police, the Tax Inquiry and the Federal Police raided 6 artefacts in the morning in Frankfurt, Eschborn and Groß-Umstadt. According to the survey, the investigation is directed against two employees aged 46 and 50, as well as other unidentified officials of the company.
At the headquarters of the Frankfurt-on-the-Main Institute, at least ten federal police cars were to see in the morning, as well as several civilian vehicles with blue lights. Deutsche Bank has declared full cooperation with the authorities. The European Central Bank (ECB), in charge of supervising Deutsche Bank, did not want to comment on the raid on the bank. The Federal Financial Supervisory Authority (BaFin), headquartered in Bonn, declined to comment on the research.
The actions of the institute, constantly troubled by the violations of the law, slipped: they lost in minutes almost five percent in value. "It means a huge loss of confidence and can be very expensive for the bank," said a trader.
At least two specific suspicions
After an badessment of the data available to the Federal Bureau of Criminal Investigation of "Offshore Leaks" and "Panama Papers", the suspect was suspected that Deutsche Bank was helping his clients to found offshore companies in tax havens, according to the prosecutor's office. During the process, funds from criminal offenses were transferred to Deutsche Bank accounts without the bank having repaid the suspicious transaction reports. In 2016, more than 900 customers representing a business volume of 311 million euros would have been supported by a group company based in the British Virgin Islands.
The "Panama Papers" are confidential documents discovered by an international research network in the spring of 2016. It revealed how politicians, sports officials, billionaires, celebrities and criminals from around the world were using courier companies created by the Panamanian law firm Mossack Fonseca in Panama to bypbad the taxes of their home country. In the summer of 2017, the Federal Office of Criminal Police (BKA) announced that he was in possession of the documents and that they were evaluating them.
Again and again in the line of fire
Deutsche Bank has often been the center of the investigators. In recent years, several raids have taken place at the institute. In 2015, for example, the twin towers of Frankfurt – the headquarters of Deutsche Bank – were searched for alleged involvement in tax frauds. The allegations that the bank has not always behaved properly in money laundering and money laundering prevention are not new. It was not until September that the BaFin Financial Supervisory Authority set up a supervisor at the Institute because it was not satisfied with the control mechanisms – a process that until then was unique.
More recently, the bank was also victim of the money laundering scandal at Danske Bank. It was active as the so-called correspondent bank for the Danes until 2015. Their systems would have processed about 150 billion euros of suspicious funds. In that case, Frankfurter Haus found that it had no knowledge of Danske's customers and their networks and that it was not obliged to do so. Not only since this case, the board responsible, Sylvie Matherat, in criticism. Recently, the media had speculated on their premature replacement. The money laundering prevention officer, Philipp Vollot, left the bank in October and hired Danske Bank.
(Reuters)
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