Deutsche Bank headquarters raided for money laundering

Police cars in front of the offices of Deutsche Bank

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The Deutsche Bank headquarters in Frankfurt was searched by prosecutors during a money laundering investigation.

The German prosecutor claimed that two staff members had helped clients launder money from criminal activities.

Police cars have been sighted outside the towers that house the headquarters of the largest bank in Germany.

Other offices of the Deutsche Deutsche in the city were searched during an operation involving about 170 police officers and officials.

Prosecutors are investigating whether Deutsche Bank staff helped clients set up accounts abroad to "transfer money from criminal activities".

The investigation was sparked by revelations in the 2016 "Panama Papers" – a huge amount of information leaked to one of the world's most secretive corporations, a law firm Panamanian called Mossack Fonseca.

  • What are Panama Papers?

Other banks, including the Swedish Nordea and German Handelsbanken, were fined as a result of information contained in the Panama Papers.

Deutsche Bank shares fell 3% after the news of the raid. The company confirmed that the police had made several raids in Germany and that she was cooperating fully with the probe.

Documents and electronic documents were seized by the authorities during the searches of the bank's properties.

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