“Paradise Papers”: German bank involved in illegal casino activities

Three German banks are involved in illegal activity with illegal online casinos, according to research conducted by two local media organisations, following recent investigations into fiscal paradise by “Parade Papers”.

The German subservations such as the D.Z. Bank, the Postbank and the Hypovereinsbank are believed to have been involved in online activity, where they have accepted money for the illegal game of fate”, the German newspaper <x2 reported yesterday evening. Sueddeutsche Zeitung” along with NDR.

“The companies can be found guilty of online activity, allegedly assisting in the illegal games of fate, behind which the money laundering process” is hidden, according to the German newspaper “Suedddeutsche Zeitung” quoting the German Ministry of State of Down Below Saxony.

Each of the German banks cited have reacted to recent media claims.

The bank “Hyposreinsbank” said it had followed all legal and regulatory guidelines, including those dealing with money laundering, while” DZ Bank” said it was considering the situation.

“Postbank” said it had operated under German law.

This data was discovered after investigating information in 13.4 million documents from a legal company <x1-offshop” and a company trusted in Singapore, known as “Parade Papers”. Documents received from German newspaper “Suedddeutsche Zeitung” and split with the International Consortium of Investigative Journalists (ICIJ). They document the relationships of financial institutions, technology giants and other brands such as sports goods producer “Nic”.