On January 28, Germany’s Federal Criminal Police conducted searches at Deutsche Bank’s headquarters in Frankfurt am Main and at its Berlin branch. This was reported by the German publications Süddeutsche Zeitung and Der Spiegel. It was determined that the investigative actions are related to alleged money laundering, in which, according to media reports, Russian businessman Roman Abramovich may be involved. Sources at Der Spiegel described the investigation as “top secret.”
The Frankfurt public prosecutor’s office confirmed that it is conducting an investigation into unidentified officials and employees of Deutsche Bank. There are suspicions that the bank previously maintained business relationships with foreign companies that were allegedly used for “money laundering.” Representatives of the prosecutor’s office declined to disclose further details of the case.
The Süddeutsche Zeitung reported that the bank was late in providing information about the activities of certain companies. The investigation concerns financial transactions carried out between 2013 and 2018. Thus, the prosecutor’s office is not raising any claims regarding the European Union sanctions against Abramovich, imposed in 2022, or against the bank’s current CEO, Christian Schwing, Bloomberg notes.
Abramovich's lawyer stated that his client is unaware of the investigation by German authorities and that the businessman "has always acted in full compliance with the law." Deutsche Bank confirmed the searches and stated that it is cooperating with the authorities, declining to comment further.
Amid reports of the investigation, the bank’s stock fell 3% on the eve of a press conference where Deutsche Bank executives planned to report record profits. In recent years, Deutsche Bank has been fined repeatedly for delays in reporting possible cases of money laundering. For example, it was fined 7 million euros for transactions that may have involved relatives of ousted Syrian President Bashar al-Assad, in which the bank acted as a correspondent bank.
It is important to note that financial institutions should pay special attention to the timeliness and accuracy of the information they provide in order to avoid such situations and reputational problems.
Source: АнтиКредит.