Criminal prosecutors in Frankfurt have carried out 2 days of raids on Deutsche Bank in Frankfurt this week, as they investigate money laundering at Germany’s largest bank. It is alleged that money laundering has been taking place in Frankfurt between 2013 and 2018. The investigation was originally triggered by the release of the Panama Papers.
The Bank is fully cooperating with the investigation but the share price has fallen to its lowest level ever at 8.06 euros. In 2015 Deutsche Bank was fined 40 million euros by the bank regulator in Germany (BaFin) for flaws in its anti-money laundering systems. In 2017 the bank agreed to pay $630 million to settle US and UK investigations involving money laundering associated with Russian clients.