German Deutsche Bank Still Under Investigation from Panama Papers Leak

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Prosecutors in Germany have raided the Frankfurt headquarters of Deutsche Bank and five of its other offices in the vicinity. They are investigating claims that two employees set up overseas bank accounts at a subsidiary firm from the bank that is registered in BVI, that clients were reportedly utilising to launder money from illicit activities from 2013 to the start of the 2018 financial year.

The evidence that fuelled further investigations are said to originate from the infamous ‘Panama Papers’ data leak from Panamanian law firm Mossack Fonseca back in 2016.