German authorities on Thursday carried out coordinated searches at Deutsche Bank offices in Frankfurt and Berlin as part of an ongoing investigation into suspected money laundering-related lapses at the country’s largest lender, officials said.
In a statement, the federal prosecutor’s office said the inquiry is examining the conduct of “unknown individuals and employees” at Deutsche Bank in connection with past business relationships involving foreign companies suspected of being used for money laundering in other investigations. The operation was conducted with support from the federal criminal police.
Deutsche Bank confirmed that its premises had been searched, saying it was cooperating fully with investigators. Officials, however, declined to disclose details about the specific employees or companies under scrutiny, citing the sensitivity of the investigation.
“No further information can be provided at this stage regarding the background of the business relationships, the transactions processed through Deutsche Bank, their scope, or the companies themselves,” the prosecutor’s office said.
German media reports suggested that the case could have links to Russian billionaire Roman Abramovich, but his legal representatives strongly rejected the claim. In a statement, Abramovich’s lawyers said he has “no connection” to the searches at Deutsche Bank and is “neither under investigation nor suspected of any wrongdoing.”
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According to the statement, the searches relate solely to alleged shortcomings in Deutsche Bank’s compliance with statutory reporting obligations under Germany’s anti-money laundering framework. “Any attempt to associate Mr Abramovich with this investigation is inaccurate and misleading,” the lawyers said, adding that his name had been cited only to draw media attention. They said Abramovich reserves all legal rights in the matter.
Abramovich was sanctioned by the United Kingdom and the European Union in March 2022 following Russia’s full-scale invasion of Ukraine. The billionaire, who made his fortune in the oil and gas sector, has been alleged to have close ties to Russian President Vladimir Putin—an assertion he has repeatedly denied.
The latest searches underscore the continued regulatory scrutiny facing Deutsche Bank, which has spent years attempting to overhaul its compliance and risk controls after a series of high-profile scandals. The lender has previously acknowledged weaknesses in its systems and invested heavily in strengthening internal controls, including expanding its compliance staff and upgrading transaction-monitoring processes.
This is not the first time Deutsche Bank has faced such action. In 2018, authorities raided the bank’s Frankfurt headquarters and several other offices as part of a separate investigation into suspected money laundering activities. That probe focused on whether bank staff had helped clients establish offshore structures to move funds derived from criminal activities. The inquiry examined transactions carried out between 2013 and early 2018.
At the time, the 2018 operation involved a large deployment of law-enforcement personnel and marked one of the most significant actions taken against the bank. While Deutsche Bank has since sought to distance itself from past compliance failures, regulators have continued to monitor its operations closely.
The current investigation highlights the heightened enforcement environment for European banks amid global efforts to tighten controls on illicit financial flows. German authorities have, in recent years, signalled a tougher stance on anti-money laundering enforcement, particularly in cases involving cross-border transactions and complex corporate structures.
Market participants will be watching closely for any further disclosures from prosecutors or the bank, as well as potential regulatory or financial implications. For now, officials have indicated that the investigation remains at an early stage, with searches aimed at securing documents and digital records relevant to the inquiry.
Deutsche Bank did not comment on whether the investigation could have a material impact on its operations or financial results, reiterating only that it is cooperating with authorities as required under German law.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
