Police and the public prosecutor's office raided Deutsche Bank's offices in Germany, including the head office at Taunusanlage in Frankfurt, the bank said.
The investigation was launched after evaluation of the explosive Panama Papers tax haven revelations and the previous Offshore Leaks report of offshore bank accounts, according to a government spokesman, Nadja Niesen.
The Deutsche Bank investigation is focused on a handful of employees suspected of helping clients set up offshore companies in tax havens, and for allowing "proceeds of crimes" transferred to Deutsche Bank accounts without reporting them to authorities, according to the Wall Street Journal.
During raids of a number of Deutsche Bank offices across the city, which were confirmed in a statement from the bank, officials seized paperwork and electronic documents.
TRT World'sIra Spitzer has more details from Berlin.
In 2016 alone, over 900 customers were served by a Deutsche Bank subsidiary registered on the British Virgin Islands, generating a volume of 311million euros, the prosecutors said.
Shares in Deutsche Bank fell 2.75 to €8.36 by 1000 GMT, against a DAX blue-chip index up 0.6%.
Nancy Pelosi nominated by Democrats to be next House speaker
Joe Cunningham of SC and Abigail Spanberger of Virginia are among those who said they'd vote against Pelosi on the House floor. The group sent Pelosi a letter on November 13 outlining their terms and have since kept up the pressure on Pelosi.
It is separate from another money laundering scandal surrounding Danske Bank, where Deutsche Bank is involved.
"These flaws allowed a corrupt group of bank traders and offshore entities to improperly and covertly transfer more than $10 billion out of Russian Federation", the regulators said.
In September, Germany's financial watchdog - BaFin - ordered Deutsche Bank to do more to prevent money laundering and 'terrorist financing, ' and appointed KPMG as third party to assess progress.
Deutsche employees are said to have helped clients set up offshore companies to launder hundreds of millions of euros.
Howard Wilkinson, the man who blew the whistle on a massive money laundering scheme through the Estonian branch of Denmark's Danske Bank, speaks during a hearing at the Danish parliament building Christiansborg Castle on Monday Nov. 19. This year, the bank saw its credit rating downgraded, its CEO ousted and its stock price hit a record low.
Deutsche Bank is in the throes of a major restructuring plan, with 7,000 jobs to go by the end of 2019.
The news comes as Deutsche Bank tries to fix its tattered reputation after three years of losses and a drumbeat of financial and regulatory scandals.
Now that Black Friday and Cyber Monday are behind us, gamers need to know - which console "won" the Thanksgiving weekend battle? Lifetime sales of Nintendo Switch , which is entering only its second holiday season, have reached more than 8.2 million units.
They committed eight first-quarter turnovers, fell behind by 20 points in the second quarter and could never catch up. Boston's road trip started off on a good note as the Celtics won at Atlanta 114-96 on Friday.
A video released by Trump through Twitter on November 26 shows the First Lady walking through the newly decorated White House . Pics and even a clip of Melania walking through the newly decorated house were shared on the official White House Twitter .
Although mild, it will become very windy everywhere, with gales or severe gales affecting much of the north and west. MET Eireann have predicted more heavy rain and strong winds with gusts reaching up to 130km/h for Wednesday.
Johnson is free to support and donate his money to any candidate or cause he chooses, and the same can be said for Breton. In the final weeks of campaigning, race has become a dominant issue. "They want to cut our Social security and Medicare".
The President also reminded reporters that not every man and woman that's with a child is indeed their parent or parents. Democrats and even some lawmakers in Trump's own party have resisted his calls to fund his proposed border wall.
South Korea had about 60 posts inside the DMZ guarded by layers of barbed wire and manned by troops with machine guns. The chemicals to control pine tree diseases are not subject to UNSC sanctions on the North, it said.
Roberts expressed concern that, for a single price increase, Apple could be held liable by both consumers and App developers. Part of the concern, the court said in that case, was to free judges from having to make complex calculations of damages.
A month later he pleaded guilty to two other criminal charges in a plea deal with Special Counsel Robert Mueller . The filing also said that Manafort disagrees with the finding that he lied to federal authorities.
Mississippians Vote in High-Stakes Senate Runoff
Cindy Hyde-Smith, who is white, and Democrat Mike Espy , who is black. "They're not putting their best in there, right?" he said. Espy resigned the Cabinet post in 1994 amid a special counsel investigation that accused him of improperly accepting gifts.
General Motors to close seven factories globally
The Baltimore Operations plant will stop building transmissions, and likewise the Warren Transmission Operations site in MI . The president said that he was " very tough " with GM CEO Mary Barra when speaking with her after the announcement .
Snowstorm batters parts of Midwest, 100s of flights cancelled
The Chicago area was slammed with up to 30 centimetres of wet snow, and whiteout conditions stalled commuter traffic on the roads. Strong winds and snow were expected to create blizzard conditions across much of Nebraska and parts of Kansas, Iowa and Missouri.