In Germany, Deutsche Bank raided on suspicion of money laundering
On Wednesday, 28 January, Deutsche Bank offices in Frankfurt am Main and Berlin were searched as part of an investigation into possible money laundering. The investigation is being conducted by the German Federal Criminal Police Office on behalf of the Frankfurt Public Prosecutor's Office.
According to German media reports, around 30 investigators entered the bank's central office in Frankfurt's financial district in the morning. The public prosecutor's office said that criminal proceedings had been opened against as yet unidentified managers and employees of Deutsche Bank. The investigation is examining the bank's business relationships with foreign companies that could have been used for money laundering.
Spiegel and Süddeutsche Zeitung note that the searches may be related to companies that investigators link to Russian oligarch Roman Abramovich. He has been under European Union sanctions since spring 2022. According to journalists, the bank may have been late in reporting suspicious financial transactions by entities linked to the oligarch to the regulatory authorities.
Abramovich's lawyer said that his client was not aware of any investigations by the German authorities in this case and stressed that the businessman had acted in accordance with the law.
Deutsche Bank confirmed the investigation and stated that it is cooperating fully with law enforcement agencies, refraining from further comment. The bank is the largest in Germany in terms of assets, estimated at approximately €1.4 trillion, and has the status of a globally systemically important financial institution.
Deutsche Bank has previously been at the centre of high-profile scandals. In 2018, law enforcement agencies conducted searches of its offices on suspicion of money laundering, and FinCEN data released in 2020 pointed to the bank's possible involvement in questionable transactions, particularly those related to Russia.
Source and photo: Der Spiegel
Deutsche Bank, FRG, Germany, Russia, Roman Abramovich, European Union
