Deutsche Bank is reckless and investigates suspicions of money laundering

FRANKFURT NAD MOHANOM. German investigators conducted a raid on Thursday at Deutsche Bank headquarters in Frankfurt am Main and at its branches. The investigators investigated together the six branches of the largest German bank.

The investigation was aimed at investigating suspicions of money laundering, the German prosecutor's office said in Bloomberg's e-mail.

Panama Papers and Offshore Leaks

A total of 170 police, prosecutors and tax inspectors attended the event. The reason is the suspicion of money laundering, said the prosecutor in a statement.

As stated by the prosecutor's office, a more in-depth investigation has been opened with the examination of what is called the "Panama Papers" and the database "Offshore Leaks".

The investigation has no connection with the scandal of the Danish Bank Danish Bank, which also involves Deutsche Bank.

The investigators obtained documents in paper and electronic form. According to Reuters, the bank has confirmed its intervention and announced full cooperation with the authorities.

Lost bank shares

Deutsche Bank shares in the Frankfurt Stock Exchange lost nearly 4% before the end of the year, but were subsequently reduced to less than 2%. This year, they have lost almost half of their value.

Prosecutors are investigating whether Deutsche Bank can help clients set up companies in tax havens and whether funds transferred to its accounts can circumvent anti-money laundering measures.

Only in 2016, the branch of Deutsche Bank in the British Virgin Islands has used more than 900 customers, the value of the transferred funds reached 311 million euros.

Employees of the bank are accused of violating their obligations because they have not reported suspicions of money laundering by clients and companies established in tax havens and suspected of tax evasion.

Gaps in Deutsche Bank's control processes, which aim to prevent money laundering, have attracted the attention of regulators on both sides of the Atlantic.

In September, the German Financial Services Authority BaFin ordered the Bank to take further steps to prevent money laundering and terrorist financing. It has designated KPMG as the third party to evaluate progress.

Last year, British and US regulators of the Deutsche Bank fined nearly $ 700 million for allowing money laundering through false agreements between Moscow, London and New York.

The United States Department of Justice is continuing its investigations.