Archive for November, 2018

Deutsche Bank headquarters raided over money laundering

Thursday, November 29th, 2018

The Frankfurt headquarters of Deutsche Bank,¬†Germany’s biggest bank, have been raided by prosecutors in a money laundering investigation.

According to Germany’s public prosecutor, two staff members have allegedly helped clients launder money from criminal activities.

In 2016 alone, more than 900 customers were served by a Deutsche Bank subsidiary registered in the BVI, generating a volume of EUR 311 million, the prosecutors allege.

The investigation was sparked by revelations in the 2016 “Panama Papers” – an enormous amount of information leaked from a Panamanian law firm called Mossack Fonseca.