Deutsche Bank has revealed its Frankfurt headquarters were recently raided by German prosecutors in link to a money laundering probe.
The bank said, “This is an investigative measure by the Frankfurt public prosecutor’s office in connection with suspicious activity reports filed by the bank. Deutsche Bank is fully cooperating with the authorities.”
BaFin – Germany’s market regulator – did not provide any further information regarding the raid and has decided not to make any further comments.
Earlier this year, Deutsche Bank was fined €8.6m by BaFin due to weaknesses relating to controls of Euribor, the Euro Interbank Offered Rate benchmark used in the financial industry.
Back in May 2021, BaFin told banking giant Deutsche Bank it needs to introduce stronger action on money laundering.
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