Deutsche Bank offices raided by German authorities in money laundering

German instrumentality enforcement officials person searched offices astatine Deutsche Bank arsenic portion of an probe into wealth laundering.

The enquiry is focused connected humanities transactions involving slope employees and businesses connected to Roman Abramovich, the Russian businessman presently nether planetary sanctions, according to media reports.

Prosecutors announced that the probe targets definite individuals arsenic good arsenic slope unit but person not disclosed circumstantial names oregon a elaborate timeline.

Two sources indicated to Reuters that the transactions nether scrutiny took spot betwixt 2013 and 2018.

“In the past, Deutsche Bank maintained concern relationships with overseas companies which, successful the people of further investigations, are themselves suspected of having been utilized for wealth laundering purposes,” prosecutors noted.

Authorities person not disclosed the identities of the individuals astatine the slope oregon the circumstantial overseas companies nether investigation.

Deutsche Bank acknowledged the hunt but refrained from releasing further information.

In a connection to Private Banker International, a spokesperson from the slope said: “We corroborate that the Frankfurt nationalist prosecutor's bureau is connected tract successful our offices. The slope is cooperating afloat with the nationalist prosecutor‘s office. We cannot remark further.”

Reports successful German media person pointed to imaginable links with Abramovich’s web of firms.

Abramovich’s ineligible typical told the BBC: “Our lawsuit is not alert of immoderate investigations by the German authorities successful this matter. Mr Abramovich has ever acted successful accordance with applicable home and planetary laws and regulations. Any proposition to the contrary is mendacious and defamatory, and our lawsuit reserves each rights successful this matter.”

Abramovich became taxable to UK and European Union sanctions successful March 2022 aft Russia’s subject enactment successful Ukraine.

He has accumulated important wealthiness done lipid and state ventures and is often alleged to person connections with the Russian government, claims helium refutes.

Deutsche Bank has encountered respective wealth laundering-related issues implicit caller years.

In 2017, it agreed to wage $630m successful penalties to US and UK authorities for transactions that regulators said helped determination $10bn retired of Russia, Reuters added.

Later that year, the US Federal Reserve fined Deutsche Bank an further $41m for failures successful its anti-money-laundering systems.

Similar investigations person led to erstwhile searches astatine Deutsche Bank offices.

In 2018, constabulary raided the instauration arsenic portion of inquiries linked to revelations from the Panama Papers.