Deutsche Bank shares plunge 8% after media reports on laundering

Stocks in the bank were trading with sharp losses of 8.15 per cent just past noon, the worst performer on the DAX index, which was down 3 per cent. Credit: AFP Photo

Deutsche Bank shares plunged in mid-day trade on Monday after media reports alleged it was involved in money laundering while its current CEO Christian Sewing was chief of its audit division.

Stocks in the bank were trading with sharp losses of 8.15 per cent just past noon, the worst performer on the DAX index, which was down 3 per cent.

A number of publications including BuzzFeed, the BBC and Germany's Sueddeutsche Zeitung say the leaked "FinCEN" files show how some of the world's biggest banks including Deutsche Bank allegedly allowed criminals to move money around the world.

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