ABN Amro Frankfurt Office Raided Over Cum-Ex Tax Fraud Scandal

ABN Amro NV became the latest bank to have its offices raided by German authorities over a widening tax scandal, adding to the lender’s woes after it was recently the subject of a money-laundering probe in the Netherlands.

The Dutch lender’s Frankfurt unit was searched Tuesday as part of a sweeping raid carried out by about 100 German law enforcement officials, according to prosecutors and an ABN Amro spokesman. The officers searched more than a dozen private homes and offices in Germany along with a home in the Netherlands, Frankfurt prosecutors said in a statement earlier in the day.

Kees van Dijkhuizen, chief executive officer of ABN Amro Group NV

Photographer: Geert Vanden Wijngaert/Bloomberg