Criminal prosecutors have continued to raid Deutsche Bank’s offices in Frankfurt on Friday morning as they seek evidence on suspected money laundering at Germany’s largest bank, people familiar with the situation told the Financial Times. The prosecutors suspect that the alleged misconduct at Deutsche stretched into this year. SuspectsThe two days of raids included the executive management board’s floor at Deutsche’s twin towers in downtown Frankfurt. The two Deutsche employees at the core of the case are managing directors in the bank’s compliance and wealth management units. Prosecutors suspect that neither flagged up suspicious money transfers by clients into Deutsche accounts in the British Virgin Islands that involved funds likely related to criminal activity.

Source: The Irish Times November 30, 2018 15:11 UTC