The proceedings are coordinated by the specialized prosecutor's office for economic crimes in Frankfurt in cooperation with the Federal Criminal Office (BKA).
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Investigators are investigating Deutsche Bank's previous business relationships with foreign entities that are themselves under the scrutiny of law enforcement authorities on suspicion of money laundering. The purpose of the searches is to secure additional evidence. The weekly “Der Spiegel” was the first to report the matter.
The prosecutor's office commented on the search of the headquarters of Deutsche Bank. No details
Representatives of the prosecutor's office do not disclose detailed information on the nature of the analyzed transactions or the scale of cooperation with foreign companies.
“No further information can be provided about the context of the business relationship, the transactions carried out through Deutsche Bank AG and their scope, or the companies themselves” – said the spokesman of the prosecutor's office.
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Suspected money laundering. There is a bank position
Deutsche Bank confirmed the fact that the procedural activities were being carried out, while limiting comments to a minimum.
“We confirm that an investigation by the prosecutor's office in Frankfurt is currently underway at the headquarters of Deutsche Bank” — said the bank's spokesman. He also added: “The bank fully cooperates with the prosecutor's office. Please bear with us that we cannot provide any additional information on this matter“.
More supervision problems
This is not the first time that Deutsche Bank has faced allegations of insufficient control in the area of anti-money laundering.
In the past, the institution was repeatedly criticized for reporting suspicious transactions too late. In April 2022, the bank's headquarters in Frankfurt was already searched by the prosecutor's office, the BKA and the financial supervision authority BaFin. The regulator then decided to send a special representative to the bank whose task was to monitor progress in combating money laundering and terrorist financing.
