Deutsche Bank premises raided in money-laundering case

The Frankfurt premises of Deutsche Bank were raided on Friday on suspicion that the German lender filed money-laundering reports too late, reported dpa.

According to the Frankfurt public prosecutor's office, police, prosecutors and representatives of the financial supervisory authority Bafin took part in the raid.

The authorities did not give further details on the case "due to ongoing investigative measures."

Deutsche Bank said the raid had taken place "in connection with suspicious money-laundering reports filed by the bank," adding that it was cooperating fully with the investigation.

Bank employees are obliged by law to immediately report any suspicion that customers are trying to launder funds from criminal transactions or transactions related to terrorist financing.

Deutsche Bank shares took a nosedive on Friday shortly after the prosecutors' announcement, dropping roughly 3% to just under €9.34 ($9.84).