German Authorities Search Deutsche Bank Offices in Money Laundering Investigation

German prosecutors have carried out raids at Deutsche Bank offices in Frankfurt and Berlin as part of an ongoing investigation into suspected money laundering activities.

The Office of the Federal Prosecutor said the inquiry, conducted alongside the Federal Criminal Police Office, is examining the actions of unidentified individuals as well as employees at Germany’s largest lender. Investigators are focusing on past business relationships between Deutsche Bank and foreign companies believed to have been used in suspected laundering schemes linked to other investigations.

German authorities conduct searches at Deutsche Bank offices in Frankfurt and Berlin as part of a money laundering investigation.

Deutsche Bank confirmed that law enforcement officials searched its premises but declined to provide further details. Prosecutors also said they could not disclose information about the transactions under review, the companies involved, or the individuals potentially implicated.

German media outlets have reported that the case may involve links to Russian billionaire Roman Abramovich, though authorities have not publicly confirmed those reports.

A spokesperson for Abramovich denied any wrongdoing, saying he is unaware of any investigation by German authorities. The statement added that Abramovich has always complied with national and international laws and warned that allegations suggesting otherwise are false and defamatory.

Abramovich was sanctioned by the UK and the European Union in March 2022 following Russia’s invasion of Ukraine. He has previously rejected claims that he has close ties to Russian President Vladimir Putin.

The raids come just days before Deutsche Bank is due to release its full-year financial results, drawing increased scrutiny to the lender. Shares in the bank fell nearly 2% in Wednesday trading.

This is not the first time Deutsche Bank has faced such action. In 2018, authorities searched the bank’s Frankfurt headquarters and several other locations as part of a large-scale investigation into whether staff helped clients establish offshore structures to move money linked to criminal activity. That probe focused on transactions carried out between 2013 and early 2018.