German authorities searched Deutsche Bank’s Frankfurt headquarters for a second straight day on Friday as part of an ongoing money-laundering probe into the country’s largest bank.
Over 150 police officers and federal tax authorities raided Deutsche Bank’s headquarters and five other sites in the area on Thursday. The search area included board members’ offices and one employee’s home and continued into Friday.
The investigation is focused on two Deutsche Bank employees, identified only by their ages, and potentially others who are suspected of helping their clients create offshore accounts and failing to alert the authorities of suspicious transactions.
Basically, when they saw something fishy, they were supposed to say something — and they allegedly didn’t.
The raids are related to the Panama Papers, a huge trove of documents exposing a global web of money laundering and tax evasion that were leaked in 2016.