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scooterscot
29th November 2018, 10:15
Should have happened in 2008. The day of reckoning will come...

Wonder if Deutsche are about to have a Lehman moment?

Deutsche Bank headquarters raided over money laundering



The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation.

Germany's public prosecutor alleged that two staff members have helped clients launder money from criminal activities.


Police cars were seen outside the tower blocks that house the headquarters of Germany's biggest bank.


Other Deutsche offices in the city were searched in an operation involving about 170 police and officials.


Prosecutors are looking into whether Deutsche Bank staff helped clients set up off-shore accounts to "transfer money from criminal activities".


The investigation was sparked by revelations in the 2016 "Panama Papers" - an enormous amount of information leaked from one of the world's most secretive companies, a Panamanian law firm called Mossack Fonseca.


What are the Panama Papers?
Other banks, including Sweden's Nordea and Germany's Handelsbanken have been fined as a result of information contained in the Panama Papers.


Deutsche Bank shares fell 3% after news of the raid emerged. The company confirmed that police had raided several locations in Germany and that it was co-operating fully with the probe.


Paperwork and electronic documents were seized by officials during the raids on the bank's properties.

source: Deutsche Bank headquarters raided over money laundering (https://www.bbc.com/news/business-46382722)

darmstadt
29th November 2018, 10:23
This happened at the Commerzbank last year, DZ Bank earlier this year and seems to be a regular occurrence over the past few years in Frankfurt. The Germans are slightly stricter than the British regarding this and as Britain wants to become an offshore tax haven, I wouldn't hold your breath on it happening soon in the city

scooterscot
29th November 2018, 10:26
No wonder the UK wants out of the EU.

Jog On
29th November 2018, 13:23
No wonder the UK wants out of the EU.

The Anti Tax Avoidance Directive - European Commission (https://ec.europa.eu/taxation_customs/business/company-tax/anti-tax-avoidance-package/anti-tax-avoidance-directive_en)


On 28 January 2016 the Commission presented its proposal for an Anti-Tax Avoidance Directive as part of the Anti-Tax Avoidance Package. On 20 June 2016 the Council adopted the Directive (EU) 2016/1164 laying down rules against tax avoidance practices that directly affect the functioning of the internal market.

Nothing to see here...

scooterscot
29th November 2018, 13:43
That's all well and good but the City of London is not part of the UK. And therefore the EU. In effect the above legislation means nothing to the CoL.

GreenMirror
29th November 2018, 13:49
That's all well and good but the City of London is not part of the UK. And therefore the EU. In effect the above legislation means nothing to the CoL.

Indeed. I saw several tug boats this morning towing the square mile and CW out into international waters.....

Jog On
29th November 2018, 14:03
What about Canary Wharf?

darmstadt
29th November 2018, 21:30
They've been done before although funnily enough it only tends to be their UK and US branches: Deutsche Bank′s 5 biggest scandals | News | DW | 29.11.2018 (https://www.dw.com/en/deutsche-banks-5-biggest-scandals/a-46510219)

scooterscot
29th November 2018, 21:46
Indeed. I saw several tug boats this morning towing the square mile and CW out into international waters.....

Never fails to amaze me how many English menfolk require the geography of their country revealed to them by a Scotsman.

Next you'll be telling me Freddie Mercury was English born and rather than Tanzanian.

shaunbhoy
29th November 2018, 22:06
Never fails to amaze me how often you spout absolute tripe.

ftfy

:eyes:eyes:eyes:eyes

vetran
29th November 2018, 22:53
What about Canary Wharf?


no loss if that ended up in Dogger!

vetran
29th November 2018, 22:56
Never fails to amaze me how I always spout absolute tripe

FTFY properly!

vwdan
30th November 2018, 12:24
Next you'll be telling me Freddie Mercury was English born and rather than Tanzanian.

Uhm, sure about that?

darmstadt
30th November 2018, 12:49
Uhm, sure about that?

Well Zanzibarian at least...

scooterscot
30th November 2018, 13:56
Uhm, sure about that?

Yes, I visited is place of birth whilst in Zanzibar.

darmstadt
30th November 2018, 14:04
Uhm, sure about that?

Sorry to bring up the 'B' word:


STEVEN WOOLFE
The UKIP MEP attempted to claim the late Freddie Mercury as a Brexiteer, despite the Queen singer having been dead since 1991. After Donald Tusk quoted the band’s lyric “friends will be friends, right till the end”, Woolfe hit back: “Freddie also said ‘I want to break free’. 17.4 million of us still do and won’t forget your so-called ‘friendship’ ever.”
Well, Mercury also wrote “I suck your mind, you blow my head / Make love inside your bed” but I wouldn’t base a manifesto on it. And though the Tanzania-born, flamboyantly camp Freddie would surely have fitted right in at a UKIP conference, his bandmate Brian May recently said, “Brexit is a disaster, because the losses that are caused by it will be huge for us. Brexit is the dumbest thing Britain has ever done in my lifetime”.

vwdan
30th November 2018, 14:17
Yes, I visited is place of birth whilst in Zanzibar.

I was being very pedantic - Tanzania wasn't a place when he was born.

scooterscot
30th November 2018, 14:33
Tanzania was the country of his birth.

vwdan
30th November 2018, 14:41
Tanzania was the country of his birth.

How do you fathom that, given it didn't exist at the time? He was born in Zanzibar.