Search Site

Trends banner

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

Deutsche Bank offices raided in money-laundering probe

The logo of German giant Deutsche Bank is seen on one of their branches in Frankfurt am Main, western Germany. (AFP)
  • Deutsche Bank has in recent years been closely watched by financial authorities in relation to suspicious transactions
  • Investigators searched Deutsche Bank's headquarters in 2019 for failing to report possibly illicit money flows

Investigators searched the offices of Germany’s biggest lender Deutsche Bank on Friday, prosecutors said, with the focus on the bank’s anti-money-laundering activities.

Officers from the BKA federal police, the financial watchdog BaFin and the prosecutors office in Frankfurt had been “deployed” at the scene, they said.

The raid was linked to “suspicious activity reports filed by the bank” in relation to money-laundering, Deutsche Bank said in a statement, adding that it was cooperating with authorities.

Deutsche Bank has in recent years been closely watched by financial authorities in relation to suspicious transactions.

BaFin in 2021 called on management at the lender to redouble their efforts to tackle money-laundering activities.

Investigators searched Deutsche Bank’s headquarters in 2019 for failing to report possibly illicit money flows.

The Frankfurt-based group also came under scrutiny for its role as a correspondence bank that handled foreign transactions for Danske’s Estonian branch, at the center of a 200-billion-euro ($212-billion) money-laundering affair between 2007 and 2015.

Deutsche Bank subsequently agreed to pay a fine of 13.5 million euros for failing to report suspicious activity quickly enough, after an investigation by Frankfurt prosecutors.

Deutsche Bank shares fell on the Frankfurt Stock Exchange after the news was reported by local media, trading around minus 2.9 at 13:30 local time (1130 GMT).