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Money laundering at Deutsche Bank down
FRANKFURT. 170 officials of the Frankfurt Public Prosecutor's Office and the Federal Office of the Criminal Police searched yesterday several objects belonging to the largest German bank, Deutsche Bank.
170 public prosecutors and federal criminal police raided several buildings Image: REUTERS
Reason for the crackdown, according to the prosecutor's investigation for suspicion of money laundering.
The investigators are targeting two employees of the bank as well as "other unidentified officials" of the institute. The serious suspicion: they should have helped customers find mailbox companies in tax havens. He should have been transferred money criminal offenses on the accounts of the German bank, without the bank would have repaid the ads for suspicion of money. More than 900 customers representing a business volume of 311 million euros would have been supported in 2016 by a company headquartered in the British Virgin Islands only in 2016. The stock of the institute declined in response to a decline and lost nearly five percent in just minutes. Deutsche Bank has been at the center of investigators for a long time. Only in September, the bank's financial supervision Bafin had prescribed a special guard. It should ensure that money laundering and terrorist financing are properly combated. It was a unique event in the German financial industry.
Highly invested in staff
In response, the bank increased its regulatory and compliance staff to 2,500 employees. "We have behind us the most important legal disputes of the past," said Sylvie Matherat, member of the board of directors, in September. "Now we continue to improve our internal controls and we have accomplished a lot of things."
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