Several locations in Frankfurt - including the headquarter - of Deutsche Bank were raided by 170 police officers and tax investigators on Thursday as part of a money laundering investigation.
Authorities are probing into whether the multinational bank with German headquarter has a role in helping clients set up offshore companies in tax havens, and whether the bank failed to report illegal/suspicious transactions. The investigation is related to 2016 investigation of the Panama Papers.
The main suspects of the Deutsche Bank probe are two of its employees who were not identified beyond their ages ,50 and 46.
"As far as we are concerned, we have already provided the authorities with all the relevant information regarding [the] Panama Papers," Deutsche Bank said in a statement to reporters. "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."