Deutsche Bank has put an end to a procedure for money laundering in Germany initiated by the
revelations of the "Panama Papers" by agreeing to pay 15 million euros to justice, said Friday
the bank.
The establishment will pay a fine of 5 million euros and a levy on management costs
avoided of an amount of 10 million euros due to "failures in terms of controls", indicates a
Deutsche Bank press release.
“The tax evasion and money laundering allegations against staff and the bank
have thus been lifted," the statement said.
“It is true that the bank has experienced weaknesses in its control environment in the past.
weaknesses are well known and we have constantly remedied them over the past few years", reacted
Friday Jörg Eigendorf, director of communication of the bank, quoted in the press release.
The Frankfurt public prosecutor's office targeted in particular two Deutsche Bank employees suspected of having helped
clients to set up companies in tax havens to launder money from criminal offences.
According to the justice, the establishment had not communicated the suspicions of money laundering in this case
before the revelation in April 2016 of the scandal of the "Panama Papers", thus failing in its legal obligation.
This case had led the prosecution to carry out an extensive search in November 2018 at the headquarters of
Deutsche Bank and other buildings in Frankfurt.
In perpetual convalescence, the first German bank then found itself sent back to its past
sulphurous legal proceedings, notably earning him fines in the billions of dollars in the United States.
Deutsche Bank has also been splashed by the investigations targeting the Danish bank Danske Bank,
for which the German bank was the correspondent for eight years.
The bank said Friday to be "in constructive dialogue" with the judicial authorities in this case.