Commerzbank AG’s offices in Frankfurt were searched Tuesday as German authorities continued their investigations into a widening tax scandal involving multiple global lenders. The raids are tied to controversial trading practice across the industry known as Cum-Ex, according to a person with knowledge of the matter who asked not to be identified in disclosing private information. […]

FRANKFURT (Reuters) – Germany’s Commerzbank as become the target of a tax evasion probe in which several current and former managers are suspected of evading 40 million euros ($47 million) in taxes via so-called dividend stripping. Prosecutors said on Friday they had searched the offices of a major Frankfurt bank and private homes this week. […]

Commerzbank will pay fines as part of a global settlement with a number of US authorities in relation to an investigation of alleged breaches of US sanctions regulations relating to Iran, Sudan, Burma and Cuba, Commerzbank will pay:  – US$258.7m to the US Treasury’s Department of the Office of Foreign Assets Control (OFAC) to settle […]

Commerzbank AG has agreed to pay a total of $1.45 billion in penalties to state and federal authorities to settle violations of sanctions imposed on countries such as Iran and Sudan by the United States. Commerzbank was accused of moving $263 million through the U.S. financial system on behalf of Iranian and Sudanese entities, and […]

The U.S. Federal Reserve ordered Commerzbank AG and its U.S. branch on Thursday to hire an independent consultant to help the German bank clean up its internal anti-money laundering programs. The Fed and the bank first entered into an agreement in June 2012 that required Commerzbank to improve compliance in its bulk cash transactions business. […]