Deutsche Bank offices searched in money laundering probe

Deutsche Bank is currently the target of investigations by the Federal Criminal Police Office. Authorities are searching premises in Frankfurt and Berlin on suspicion of money laundering.

Deutsche Bank said on Wednesday that enforcement officials were searching its offices in Frankfurt and Berlin as part of a probe over suspected money laundering.The lender said it was co-operating fully with the public prosecutor’s office but declined to comment further.According to Der Spiegel, who first reported the news, prosecutors said the investigation is "against previously unknown managers and employees of Deutsche Bank".Deutsche Bank shares were down over 3% following the news, after trading around 2% lower before the development. The company will report fourth-quarter earnings on Thursday.