BNY Mellon’s Frankfurt offices raided in German tax scandal probe

By Karin Matussek

22 Nov 2022 · 2 min read

Editor's Note

BNY Mellon is the latest investment bank to come under scrutiny in connection with a vast tax scandal in Germany that has been rumbling on for more than a decade. Bloomberg has the details.

Bank of New York Mellon's Frankfurt offices were raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street's biggest banks.

BNY Mellon confirmed that its Frankfurt office was visited by German authorities. The bank said it continues to cooperate fully with the authorities in an ongoing investigation relating to legacy tax matters. There has been no interruption to services to clients, the lender added.

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