Money laundering investigation targets Frankfurt and Berlin
German police carried out searches at Deutsche Bank offices in Frankfurt and Berlin on Wednesday as part of an investigation into suspected money laundering, according to statements from prosecutors and the bank.
Shares of the German lender fell around 2.7% following reports of the probe, which was first disclosed by news magazine Spiegel.
Bank confirms cooperation with authorities
Deutsche Bank confirmed the searches in a brief statement, saying that prosecutors in Frankfurt were conducting investigative actions at its business premises.
“We are cooperating fully with the prosecutor’s office,” the bank said, adding that it could not provide further comment on the matter.
Timing ahead of earnings release
The searches took place just one day before Deutsche Bank is scheduled to publish its fourth-quarter and full-year earnings results, increasing market sensitivity around the investigation.
Previous probes and regulatory scrutiny
Deutsche Bank has faced multiple investigations over the past decade. In 2022, German authorities searched the bank’s Frankfurt offices in connection with an earlier money laundering probe.
That same year, the lender and its asset management subsidiary DWS were investigated over allegations of greenwashing related to ESG investment products.
In 2018, around 170 law enforcement officials inspected Deutsche Bank as part of a tax evasion investigation involving two employees. That probe stemmed from the 2016 “Panama Papers” leak and was later dropped, although the bank was fined for compliance deficiencies.
The latest investigation adds to the long history of regulatory and legal challenges faced by Germany’s largest lender.
