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German prosecutors have launched a new investigation into Deutsche Bank over suspected money laundering, executing searches at the lender’s business premises in Frankfurt and Berlin on Wednesday.
The Frankfurt public prosecutor’s office stated that it is investigating "unknown responsible parties and employees of Deutsche Bank on suspicion of money laundering." Deutsche Bank also confirmed the presence of investigators at its locations, adding that its staff is fully cooperating with the authorities.
While neither the authorities nor the bank provided further details, Deutsche Bank’s stock fell by more than 3.3% on the Frankfurt Stock Exchange following the reports. The development also comes just one day before the bank is scheduled to release its fourth-quarter and full-year earnings report.
This is not the first time the German lender has faced regulatory scrutiny. In 2022, authorities searched Deutsche Bank’s Frankfurt headquarters over a prior money laundering case.
That same year, the bank and its asset management unit DWS were investigated for allegedly misrepresenting their environmental, social, and governance (ESG) practices, a tactic known as "greenwashing."
Founded in 1870, Deutsche Bank is the largest lender in Germany by assets, operating as a global investment bank and financial services provider with a presence in more than 50 countries.
As of the latest reporting period, Deutsche Bank reported total assets of $1.63 trillion and generated $67.44 billion in revenue, marking a 7.27% year-over-year decline amid broader market volatility and ongoing internal restructuring efforts.
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