DB management can't be blamed for police raids - CFO

Business 12/6/2018, 3:39 PM
DB management can't be blamed for police raids - CFO

Deutsche Bank chief financial officer James von Moltke said on Thursday that the police raids of the company's offices in Frankfurt cannot be blamed on the management, CNBC reported. Additionally, the executive rejected dismissed reports of tensions in the company's board following the incident, pointing out that Deutsche Bank took the necessary steps to upgrade its systems' control.

"To date, we are not aware of any wrongdoing on our part, so we will await the conclusion of the prosecutors," Von Moltke stated. "Raids that take place with reasonable frequency in Germany, aren't that well understood outside Germany... our focus is on working with the prosecutors," he added.

Deutsche Bank's Frankfurt corporate offices were raided last Friday amid an investigation into alleged money laundering.

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