Deutsche Bank offices raided by German authorities in money laundering

Core Viewpoint - Deutsche Bank is under investigation by German law enforcement for potential money laundering activities linked to transactions involving Roman Abramovich, a Russian businessman under international sanctions [1][4]. Group 1: Investigation Details - The investigation focuses on historical transactions between 2013 and 2018 involving bank employees and businesses associated with Abramovich [2]. - Prosecutors have indicated that Deutsche Bank had business relationships with foreign companies suspected of being used for money laundering [2]. - Specific identities of individuals at the bank and the foreign companies involved have not been disclosed [2]. Group 2: Deutsche Bank's Response - Deutsche Bank has confirmed the search of its offices and stated that it is fully cooperating with the public prosecutor's office, but has not provided further comments [3]. - The bank has a history of facing money laundering-related issues, including a $630 million penalty in 2017 for facilitating the movement of $10 billion out of Russia [5]. Group 3: Background on Abramovich - Abramovich has significant wealth from oil and gas ventures and is alleged to have connections with the Russian government, which he denies [5]. - He has been subject to UK and EU sanctions since March 2022 due to Russia's military actions in Ukraine [4]. Group 4: Previous Incidents - Deutsche Bank has faced multiple investigations related to money laundering, including a $41 million fine from the US Federal Reserve in 2017 for deficiencies in its anti-money-laundering systems [6]. - The bank's offices were previously raided in 2018 as part of inquiries related to the Panama Papers [6].