| Author (Corporate) | Cardiff EDC (Compiler) |
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| Publication Date | 30/11/2018 |
| Content Type | News |
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Summary: The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation on 28 November 2018. The probe stems from 'Panama Papers'. Prosecutors believe the bank helped clients "transfer money from criminal activities" to tax havens. Two employees in this Germany's biggest lender are suspected of helping clients set up offshore firms to launder money. Further information: Around 170 police officers, prosecutors and tax inspectors searched the offices where written and electronic business documents were seized. Deutsche Bank has been connected with another huge money laundering scandal at Denmark's Danske Bank. Earlier this month, it confirmed the involvement in processing payments for the Danish bank in Estonia. Deutsche Bank has been sanctioned in the past for failing to tackle money laundering. |
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| Source Link | Link to Main Source https://www.db.com/newsroom_news/2018/police-investigation-deutsche-bank-en-11737.htm |
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| Subject Categories | Business and Industry, Economic and Financial Affairs, Taxation |
| Keywords | Money Laundering |
| Countries / Regions | Germany |
