Deutsche Bank's Frankfurt and Berlin offices were recently raided by authorities as part of an ongoing money laundering investigation. The Federal Prosecutor's Office, in collaboration with the Federal Criminal Police Office, is probing 'unknown individuals and employees' at Germany's largest bank. The probe focuses on past business relationships with foreign companies suspected of being used for illicit financial activities. A Deutsche Bank spokesperson confirmed the searches, but declined to disclose further details, citing ongoing investigations. German media has linked the case to Russian billionaire Roman Abramovich, who has denied any awareness of German investigations. Abramovich, sanctioned by the UK and EU for his ties to Putin, faces scrutiny over his business dealings. The raids come amidst a broader context of financial misconduct, with Deutsche Bank's shares dropping 2% on Wednesday. This is not the first time the bank has faced such scrutiny, as a previous investigation into offshore account activities between 2013 and 2018 highlighted potential staff involvement in criminal money transfers.
