German federal police carried out searches at offices of Deutsche Bank in Frankfurt and Berlin on Wednesday as part of an investigation linked to suspected money laundering, according to prosecutors in Frankfurt.
Authorities said the probe targets unidentified individuals as well as bank employees. Two people familiar with the matter told Reuters the investigation focuses on transactions that took place between 2013 and 2018, although prosecutors declined to confirm the exact time frame.
In a written statement, prosecutors said the case relates to past business relationships between Deutsche Bank and foreign companies that later came under suspicion of being used for money laundering purposes. The bank confirmed that the searches took place and said it was cooperating fully with authorities, but declined to provide further details.
The operation appeared more limited than previous police actions against the lender. Unlike earlier raids, there was no visible police presence outside Deutsche Bank’s headquarters in central Frankfurt, where past searches had involved multiple patrol vehicles and a larger law enforcement footprint.
Deutsche Bank shares were down around 3% in mid-afternoon trading following news of the searches.
The timing is notable, coming just one day before the bank is scheduled to report its 2025 financial results. Analysts expect those figures to show Deutsche Bank’s strongest net profit since 2007, underscoring the contrast between improved financial performance and continued regulatory scrutiny.
The bank’s anti-money laundering controls have been under pressure for years. In 2017, Deutsche Bank agreed to pay $630 million to U.S. and UK regulators over so-called “mirror trades” that authorities said were used to move roughly $10 billion out of Russia. That same year, the U.S. Federal Reserve imposed an additional $41 million fine, citing failures in systems designed to detect illicit transactions.
Law enforcement actions have followed at intervals. In 2018, police searched Deutsche Bank offices as part of an investigation connected to the Panama Papers revelations, shortly after Christian Sewing took over as chief executive. In 2022, authorities again searched the bank over whether it had filed suspicious activity reports within required deadlines.
Deutsche Bank has repeatedly said it is working to strengthen its internal controls. Chairman Alexander Wynaendts told investors last year that further improving anti-money laundering systems remains a priority, as regulators on both sides of the Atlantic continue to monitor the bank’s compliance record closely.