Deutsche Bank slapped with €15m fine in money laundering case

Pedro Gonçalves
clock • 2 min read

Deutsche Bank has settled a case with Frankfurt prosecutors that involved a raid on its offices and resulted in a huge hit on earnings and stock value over suspected money laundering. German authorities raided Deutsche Bank's offices, including its Frankfurt base, in connection with the probe in 2018. When footage of the raid, which involved about 170 authorities, was released, the bank's shares plummeted to an all-time low. Chief executive officer Christian Sewing would later say that the raids also saw the exodus of many clients who were spooked by the actions, which led to Q4 losses. ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?