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Deutsche Bank's headquarters raided over money laundering

Police cars outside Deutsche Bank officesImage copyright

The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation.

Germany's public prosecutor alleged that two staff members have helped clients launder money from criminal activities.

Police cars were seen outside the tower blocks that house the headquarters of Germany's largest bank.

Other German offices in the city were searched in an operation involving about 170 police and officials.

Prosecutors are looking into whether Deutsche Bank staff has helped clients set up off-shore accounts to "transfer money from criminal activities".

The investigation was sparked by revelations in the 2016 "Panama Papers" – an enormous amount of information leaked from one of the world's most secretive companies, and a Panamanian law firm called Mossack Fonseca.

  • What are the Panama Papers?

Other banks, including Sweden's Nordea and Germany's Handelsbanken, have been fined as a result of the information contained in the Panama Papers.

Deutsche Bank shares fell 3% after news of the raid emerged. The company confirmed that police had raided several locations in Germany and that it was cooperating fully with the probe.

Paperwork and electronic documents were seized by officials during the raids on the bank's properties.

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