Panama Papers: Deutsche Bank offices raided over money laundering suspicion

German prosecutors raided several Deutsche Bank offices in the Frankfurt area Thursday over suspicions of money laundering based on revelations from the 2016 "Panama Papers" data leak.

The investigation centres on allegations that Germany's biggest lender helped clients set up off-shore companies in tax havens to "transfer money from criminal activities", the Frankfurt prosecutor's office said in a statement.

Some 170 police officers and investigators from the Frankfurt prosecutors' office were searching six of the bank's premises in and around the city, it added.