Frankfurt Unpleasant visit for Deutsche Bank: On Friday, the public prosecutor’s office in Frankfurt, the Federal Criminal Police Office and the financial supervisory authority Bafin searched the premises of the bank. The search measures were taking place “due to a search warrant from the Frankfurt district court”, the Frankfurt public prosecutor announced.
The criminal investigation authority did not want to provide any further details “due to the ongoing investigation measures”. According to information from the Handelsblatt, the investigators accuse Deutsche Bank of having submitted suspicious money laundering reports too late. The background is a transaction from the correspondent banking sector.
Many years ago, the bank failed to file a complaint, although there were suspicions or suspicious people were involved, said a person familiar with the matter. The bank recently forwarded this information to the authorities, but from their point of view this report was made too late. According to the insider, the allegations are directed against unknown persons.
Another person familiar with the searches said the search was about an isolated case from the customer sphere. It’s not about the greenwashing allegations at DWS or allegations in the context of the cum scandal.
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The bank announced that “this is an investigative measure by the Frankfurt public prosecutor in connection with reports of suspected money laundering that the bank has submitted”. The bank cooperates “fully with the authorities”. The institute did not want to comment on the further information from the Handelsblatt.
The stock gave back gains in Friday trading and fell back into the red. With a loss of more than three percent, the titles were among the biggest losers in the Dax at noon.
More: Deutsche Bank achieves best quarterly results in nine years