Deutsche Bank raided over Panama Papers link

| 29/11/2018 | 28 Comments
Cayman News Service

Deutsche Bank headquarters in Frankfurt

(CNS): German law enforcement officials have raided the Frankfurt headquarters of Deutsche Bank in a money laundering investigation connected to the notorious Panama Papers. German prosecutors allege that two staff members at the bank helped clients launder money from criminal activities using offshore accounts in the British Virgin Islands. During raids of a number of Deutsche Bank offices across the city, which were confirmed in a statement from the bank, officials seized paperwork and electronic documents. 

“We confirm that the police are currently conducting an investigation at a number of our offices in Germany,” the bank said in a short statement posted to its website. “The investigation relates to the Panama Papers. We will be issuing further details in due course. We are cooperating fully with the authorities.”

The bank later added the following comment: “As far as we are concerned, we have already provided the authorities with all the relevant information regarding Panama Papers. Of course, we will cooperate closely with the public prosecutor’s office in Frankfurt, as it is in our interest as well to clarify the facts. In recent years, we have proven that we fully cooperate with the authorities — and we will continue to do so.”

Deutsche Bank retains an office in the Cayman Islands, which employs around 30 people, but there is no indication at this point that this investigation has any connection to those offices.

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Category: Banking, Business, Crime, Europe, World News

Comments (28)

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  1. Anonymous says:

    This is part of the Mueller investigations in the US.

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  2. Anonymous says:

    calm down plebs, one or two ‘fines’ that will be equivalent to maybe 5% of the total money they earned doing shady business will be splashed across the news board and everyone will go back to grazing in the field.

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  3. Anonymous says:

    Do you get paid if you whistleblow? Who to whistleblow to? I know plenty.

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  4. Anonymous says:

    DB is shutting down its business in Cayman, most of it has already been sold to Butterfield. I would be surprised if there are more than five people left there now rather the thirty mentioned in the article.

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  5. boom says:

    You tax evading,money laundering,white collard thieves gonna get what’s coming for you sooner or later?#tictoc

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    • Anonymous says:

      very true. the great christian money laundering society of cayman is in for a rude awakening.

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    • Anonymous says:

      Never mind the Germans where has the CIFA money gone. Will it be permanently swept under the carpet or rather, under the artificial grass pitch?

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  6. Anonymous says:

    Do you really think this Government really wants an effective Financial regulatory authority. That’s why CIMA, FRA and the RCIPS are so ineffective, underfunded, idiots appointed to lead, blocked or side tracked at every opportunity
    First world private financial sector with plenty of dodgy money as we all know.
    Banana Republic Government enforcement

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    • Anonymous says:

      Is there a way to report to CIMA as a lay person? If so, how? Can we get compensated for it? Because if that ever gets public, whistleblowers will never be able to work in the Cayman Islands or maybe financial services ever again.

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    • Anonymous says:

      CIMA allowed HSBC to get away by donating $100,000 to Cayman Scouts Association. They paid $1 billion fine to US government for crimes committed in Cayman. Shame on CIMA !!!!!!!!!!!!!!!

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  7. Anonymous says:

    Let’s hope that there are no links with Deutsche Bank, Russian oligarch money and Caymanian financial or legal institutions. We don’t need the bad international press.

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  8. Anonymous says:

    And this is just the beginning. I sense a serious s*** storm brewing up here.

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  9. Anonymous says:

    Bunch of white-collar crooks!

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  10. Bun up rd says:

    They need to come here and raid the banks as well cause there’s a lot of cocaine sniffing,tax evading criminals on this island!..

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  11. Anonymous says:

    “Trump’s long and winding history with Deutsche Bank could now be at the center of Robert Mueller’s investigation.”

    https://www.commondreams.org/news/2018/11/29/one-financial-institution-stuck-trump-deutsche-bank-headquarters-raided-germany

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