{"id":23683,"date":"2018-11-29T13:24:32","date_gmt":"2018-11-29T13:24:32","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=23683"},"modified":"2018-11-29T13:24:32","modified_gmt":"2018-11-29T13:24:32","slug":"german-police-search-deutsche-bank-in-money-laundering-case","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=23683","title":{"rendered":"German police search Deutsche Bank in money-laundering case"},"content":{"rendered":"<div id=\"body-200771816342556199\" readability=\"105\">\n<p class=\"speakable\">German investigators looking for evidence of possible money laundering have searched multiple offices belonging to Deutsche Bank.<\/p>\n<p class=\"speakable\">A total of 170 officers from the Frankfurt public prosecutor&#8217;s office, the Criminal Bureau of Investigation (BKA), the tax fraud office and the federal police searched the head office of Germany&#8217;s largest lender in Frankfurt, among other properties, on Thursday morning.<\/p>\n<p class=\"speakable\">A total of six properties were searched in Frankfurt, Eschborn and Gross-Umstadt, the public prosecutor said.<\/p>\n<p>It is suspected that bank employees helped customers set up offshore firms in tax havens.<\/p>\n<p>The prosecutor suspects further that proceeds from criminal activity were transferred into Deutsche Bank accounts without the bank flagging the transactions as potential money-laundering cases.<\/p>\n<p>The investigation was launched after evaluation of the explosive Panama Papers tax haven revelations and the previous Offshore Leaks report of offshore bank accounts, according to a government spokesman, Nadja Niesen.<\/p>\n<p>The analysis &#8220;gave rise to suspicion that Deutsche Bank was helping clients set up so-called offshore companies in tax havens and the proceeds of crimes were transferred there from Deutsche Bank accounts&#8221; without the bank reporting it.<\/p>\n<p>In 2016 alone, more than 900 customers are alleged to have transferred some 311m euros to one such company set up in the British Virgin Islands, she said.<\/p>\n<p>The suspects are accused of failing to report the suspicious transactions even though there was &#8220;sufficient evidence&#8221; to have been aware of it.<\/p>\n<p>Deutsche Bank confirmed that authorities were &#8220;conducting an investigation at a number of our offices in Germany&#8221;.<\/p>\n<p>&#8220;The investigation has to do with the Panama Papers case,&#8221; the bank said. &#8220;More details will be communicated as soon as these become known. We are cooperating fully with the authorities.&#8221;<\/p>\n<p>Deutsche Bank shares slid sharply after the news broke, and were down 3.75 percent in midday trading in Frankfurt.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>German investigators looking for evidence of possible money laundering have searched multiple offices belonging to Deutsche Bank. A total of 170 officers from the Frankfurt public prosecutor&#8217;s office, the Criminal Bureau of Investigation (BKA), the tax fraud office and the federal police searched the head office of Germany&#8217;s largest lender in Frankfurt, among other properties,&hellip;<\/p>\n","protected":false},"author":10,"featured_media":23684,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-23683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/23683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23683"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/23683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/23684"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}