Deutsche Bank's headquarters in Frankfurt were raided by Germany's public prosecutor for alleged money laundering. The bank confirmed that police had raided many locations in Germany and that it was cooperating with the prosecutor's probe into its activity. The public prosecutor's office in Frankfurt said an evaluation of data from the Panama Papers triggered suspicion that the bank may have helped customers create offshore companies in tax havens around the world.
This is not the first time DB has gotten into hot water for money laundering. In September, Germany's financial regulator had ordered the bank to take action to prevent so-called terrorism financing and money laundering. Last year the bank was fined $630 million by US and UK regulators in relation to money laundering in Russia.