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Something you'll not see happening in the city of London

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    Something you'll not see happening in the city of London

    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
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    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
    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

    Comment


      #3
      No wonder the UK wants out of the EU.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

      Comment


        #4
        Originally posted by scooterscot View Post
        No wonder the UK wants out of the EU.
        The Anti Tax Avoidance Directive - European Commission

        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...
        "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

        Comment


          #5
          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.
          Last edited by scooterscot; 29 November 2018, 14:08.
          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

          Comment


            #6
            Originally posted by scooterscot View Post
            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.....

            Comment


              #7
              What about Canary Wharf?
              "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

              Comment


                #8
                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
                Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

                Comment


                  #9
                  Originally posted by GreenMirror View Post
                  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.
                  "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                  Comment


                    #10
                    Originally posted by scooterscot View Post
                    Never fails to amaze me how often you spout absolute tripe.
                    ftfy

                    “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

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