London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Deutsche Bank raided in $1tn greenwashing inquiry

Deutsche Bank raided in $1tn greenwashing inquiry

The asset management arm of the bank is accused of selling investment products as more environmentally friendly than they were. The scandal is the biggest to hit the sustainable investing movement since its inception.
Deutsche Bank has been raided for the second time in less than a month, this time over a $1tn greenwashing scandal that has rocked the bank.

Regulators in Germany claim that DWS, the bank’s asset management arm, sold investment products worth $1tn as more environmentally friendly and “sustainable” than they actually were.

The former DWS head of sustainability blew the whistle on the asset manager last year, saying it would often overstate the success of its environmental, social and governance (ESG) strategy.

Police raided the headquarters of Deutsche Bank and the DWS office in the city of Frankfurt on Tuesday.

German prosecutors say "sufficient factual evidence has emerged" that ESG factors were taken into account in a very small number of investments "but were not taken into account at all in a large number of investments", contradicting statements made by DWS to potential clients.

DWS is already under investigation by the Securities and Exchange Commission and federal prosecutors in the US over the issue, the biggest greenwashing scandal to emerge to date.

The asset manager has repeatedly denied all the allegations.

After the raid, it said it was cooperating with “all relevant regulatory authorities”, according to the German news agency dpa.

More than 50 people, including federal law enforcement agents and officials from the German financial regulator BaFin, were involved in the raid.

In a separate incident, the German authorities raided the lender at the end of April in an inquiry related to suspected money laundering.

The lender has been at the centre of a succession of scandals in recent years, ranging from its close ties to Donald Trump and tax evasion to laundering $10bn of Russian money and violating international sanctions.

It has been fined more than $18bn since 2000.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×