German investigators search Deutsche Bank offices in money laundering probe

Core Viewpoint - Deutsche Bank is under investigation for possible money laundering, with searches conducted at its offices in Frankfurt and Berlin [1][2][3] Group 1: Investigation Details - The investigation is focused on "unknown employees" and the bank's previous business relationships with foreign entities suspected of money laundering [2] - The Frankfurt prosecutor's office has not disclosed the nature or size of the transactions being investigated [2] Group 2: Company Response - Deutsche Bank confirmed the presence of the Frankfurt public prosecutor's office at its offices and stated that it is fully cooperating with the investigation [3] Group 3: Historical Context - Deutsche Bank has faced multiple regulatory issues in the past, including a $205 million fine in 2018 for foreign exchange market manipulation and a $41 million fine in 2017 for inadequate money laundering controls [4] - In 2017, the bank was also penalized $629 million by New York and British regulators for lapses that allowed $10 billion in illicit funds to be laundered through its operations [4]