Deutsche Bank shares lost 8.15% on the Frankfurt Stock Exchange. HSBC fell more than 4% to its worst level since 1995.
The shares of major banks such as Deutsche Bank, the largest in Germany, or HSBC they sank this Monday more than 8%, the day after the revelations of a consortium of journalists about alleged money laundering that passed through the largest banks in the world during years.
Deutsche Bank shares lost 8.15% on the Frankfurt stock exchange, whose Dax index lost more than 3% on fears linked to a second wave of coronavirus in Europe.
Shares in the banking sector fell on Monday after media reported that some of the world’s largest banks had moved large sums of allegedly illicit funds for nearly two decades.
Barclays fell 4% in early London trading and HSBC and Standard Chartered lost 3%. Previously in Hong Kong, HSBC fell more than 4%, taking shares to their lowest level since May 1995.
The crash came after thousands of documents detailing 2 trillion dollars potentially corrupt transactions that were dragged down by the US financial system
The documents were leaked to an international group of investigative journalists.
Media reports were based on more than 2,000 reports Suspicious Activity Report (SAR) filed by banks and other financial firms with the U.S. Department of the Treasury’s Financial Crime Enforcement Network (FinCen).