German police raided Deutsche Bank offices on Thursday, seeking evidence in a money laundering investigation into the practice of hiding money offshore, to
German police raided Deutsche Bank offices on Thursday, seeking evidence in a money laundering investigation into the practice of hiding money offshore, to elude tax collectors and government regulators.
« Police officers and tax inspectors entered Deutsche Bank’s headquarters in Frankfurt early Thursday morning and seized documents, » NPR’s Esme Nicholson reports from Berlin. « Prosecutors are investigating two employees of the bank who allegedly assisted customers in setting up offshore firms to avoid anti-money laundering safeguards when transferring money to accounts at Deutsche Bank. »
Nicholson adds, « according to investigators, in 2016 alone more than 900 Deutsche Bank customers were served by a subsidiary registered in the British Virgin Islands.
