Deutsche Bank. (Photo: Yonhap News)

 

 

[Alpha Biz= Paul Lee] On January 28, German prosecutors conducted a raid on Deutsche Bank amid allegations that some employees were involved in money laundering. The searches targeted the bank’s headquarters in Frankfurt and its Berlin branch.

Authorities suspect that Deutsche Bank maintained business relationships with foreign companies previously linked to money laundering. The identities of the involved employees have not yet been disclosed.

The raid came just ahead of Deutsche Bank’s annual financial results announcement. Following the news, the bank’s shares briefly fell about 4% on the Frankfurt Stock Exchange, despite expectations of record-high earnings.

Sources told the Financial Times that the investigation relates to transactions between 2013 and 2018, with connections to Russian oil tycoon Roman Abramovich, a close ally of Russian President Vladimir Putin and a subject of EU and UK sanctions. Prosecutors allege Deutsche Bank filed suspicious activity reports (SARs) on Abramovich-linked entities late, prompting the investigation.

Deutsche Bank has previously faced fines and was under special supervision by the German financial regulator until the end of 2024. Analysts note that this raid echoes a 2018 investigation, which led to a €15 million fine over inadequate anti-money laundering controls and triggered major restructuring under CEO Christian Sewing.

 

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]