Featured Germany

Prosecutors eye former Deutsche Bank anti-money laundering official – report

Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk… Read More

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More

EU Parliament calls for inquiry into €55 billion cum-ex tax fraud

Members of the European Parliament have called for an inquiry to examine various aspects of the cum-ex multi-billion euro tax fraud scheme, which has hit Germany and possibly several other European countries. The lawmakers want the probe to establish the ‘real actors’ behind the scam, whether there were breaches of… Read More
11th December 2018
Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk… Read More
7th December 2018
Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More
4th December 2018
Members of the European Parliament have called for an inquiry to examine various aspects of the cum-ex multi-billion euro tax fraud scheme, which has hit Germany and possibly several other European countries. The lawmakers want the probe to establish the ‘real actors’ behind the scam, whether there were breaches of… Read More
30th November 2018
Police officers in Frankfurt raided the offices of Deutsche Bank regarding a Panama Papers investigation, which is believed to involve facilitating money laundering in tax havens. Deutsche Bank confirmed raids occurred on Thursday morning, saying in a statement: “We confirm that the police are currently conducting an investigation at… Read More
28th November 2018
A longtime favorite vehicle for money launderers, real estate as a means of hiding illicit proceeds has gained renewed attention by regulators and legislators throughout the world. Real estate was an $8.5 trillion market in 2017, which warrants regulatory scrutiny and enhanced transparency for an industry exposed to the downstream… Read More
21st November 2018
German financial watchdog Bafin has asked Deutsche Bank (DBKGn.DE) to supply information on its dealings with Danske Bank (DANSKE.CO), which is ensnarled in money laundering allegations, a source close to the matter said on Tuesday. After a fast evaluation of the data, Bafin will decide whether to launch a formal… Read More
20th November 2018
Top Western banks are alleged to have processed the bulk of the $234 billion tranche of suspicious transactions central to Danske Bank’s money laundering affair, which has stirred much controversy in the European banking world. On Monday, whistleblower and former Danske Bank employee Howard Wilkinson told Danish lawmakers that a… Read More
20th November 2018
European Union foreign ministers showed cautious support on Monday for possible new economic sanctions on Iran in a shift of policy after accusations of Iranian attack plots in France and Denmark, diplomats said. Denmark and France briefed their EU counterparts at a meeting in Brussels on the alleged plots and… Read More
8th November 2018
AP — German prosecutors say they have searched the Munich offices of investment firm BlackRock, which said it was cooperating in a probe of a tax scheme known as “cum-ex” transactions that has drawn the attention of law enforcers. Prosecutors in Cologne said Wednesday they… Read More
31st October 2018
AP — A German court has ordered the release of former Audi CEO Rupert Stadler, more than four months after he was arrested in an investigation into the manipulation of diesel emissions controls. The Munich state court said Tuesday it lifted an arrest warrant against Stadler,… Read More
Must Read

Elise Bean – The Inside Track – The US Senate’s Investigations into Financial Crime

Elise Bean joins Tom Devlin (from KYC360) in conversation to discuss her new book, highlights of her investigative career, and learning points for both banks and financial crime investigators arising from the PSI's work Read More

UK freezes bank account linked to Azerbaijani Laundromat

British investigators have frozen a bank account linked to a multi-billion dollar Azerbaijani money-laundering scheme that a network of investigative reporters has alleged rinsed dirty money mainly through four, UK-registered shell companies. The National Crime Agency (NCA) said on Wednesday that the Account Freezing Order (AFO), part of a new… Read More