11 Dec 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 reported, without citing sources.
A spokesman for Deutsche Bank declined to comment. The Frankfurt prosecutor’s office didn’t answer the phone or return an email seeking comment.
Deutsche Bank shares hit a low on Friday and traded 4.4 percent lower at 1614 GMT. Shares are down 53 percent this year.
– By Tom Sims and Andreas Framke, 10 December 2018.
Link to Reuters.
Advance your CPD minutes for this content, by signing up and using the CPD WalletFREE CPD Wallet