Money laundering (whew….)
The headquarters of Deutsche Bank were reportedly raided yesterday as part of an ongoing money laundering case.
Law enforcement authorities raided the bank’s Frankfurt offices “after the institution itself reported possible money laundering.” The raid was attended by officials from the Frankfurt Public Prosecutor’s Office and the German Federal Police, and the report continued and searches continued at the institution throughout Friday.
In addition, representatives from the financial watchdog BaFin were also involved in the research, according to Reuters.
Deutsche Bank said the research pointed to “reports prepared by the bank on suspected money laundering” and the bank said the bank was working “in full cooperation with the authorities”. ReutersHe stressed that the investigation came based on a report from the bank, which stated that “the research included suspicious transactions that he himself referred to the authorities.”
Bloomberg confirmed on Friday morning that “police officers are present in and around the Deutsche Bank office in Frankfurt.” However, an eyewitness told Reuters there was “no indication of an authority outside the bank’s office on Friday”.
Deutsche Bank issued the following statement:
“This is an investigation by the Frankfurt Public Prosecutor’s Office in relation to the reports of suspicious activities submitted by the bank. Deutsche Bank is cooperating fully with the authorities.”
Meanwhile, Deutsche’s website has been under the microscope for years for possible money laundering, risking fines estimated at $700 million over operations that authorities said were used to illegally launder money. So this time he probably wanted to avoid hundreds of millions more fines, even if the title currently lost 3%. Meanwhile, it is alarming that company executives can still act as money launderers even in an organization the size of a DB.
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