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'Spy scandal' hits Deutsche Bank 'Spy scandal' hits Deutsche Bank
(40 minutes later)
Deutsche Bank has confirmed it faces a possible criminal investigation into spying allegations, but refused to say if it had dismissed two staff members. Deutsche Bank has confirmed it faces a possible criminal investigation into spying allegations.
Germany's largest lender is accused of spying on two board members it suspected of leaking sensitive details, as well as one critical shareholder.Germany's largest lender is accused of spying on two board members it suspected of leaking sensitive details, as well as one critical shareholder.
State prosecutors are now trying to establish whether to launch a formal criminal investigation.State prosecutors are now trying to establish whether to launch a formal criminal investigation.
The bank began its own inquiry into the spying claims in May. The bank refused to comment on reports that it had dismissed two of its staff members in connection with the claims.
The bank began its own inquiry into the spying allegations in May.
This independent investigation is now continuing, and a Deutsche Bank spokesman said it would not be commenting on the spying allegations until it was completed.This independent investigation is now continuing, and a Deutsche Bank spokesman said it would not be commenting on the spying allegations until it was completed.
Data evidenceData evidence
State prosecutors are looking at evidence handed to them by the German data protection office. It can take them two to three weeks before deciding whether to launch a formal investigation.State prosecutors are looking at evidence handed to them by the German data protection office. It can take them two to three weeks before deciding whether to launch a formal investigation.
According to reports, Deutsche Bank has parted company with its former head of security and its head of investor relations.According to reports, Deutsche Bank has parted company with its former head of security and its head of investor relations.
German is no stranger to cases of corporate spying, with examples at telecoms group Deutsche Telekom, railway group Deutsche Bahn and retailer Lidl in recent years.German is no stranger to cases of corporate spying, with examples at telecoms group Deutsche Telekom, railway group Deutsche Bahn and retailer Lidl in recent years.
Last year, Deutsche Bank reported its first annual loss for more than 50 years after it was forced to write down million of euros of bad debts linked to the US mortgage market.Last year, Deutsche Bank reported its first annual loss for more than 50 years after it was forced to write down million of euros of bad debts linked to the US mortgage market.
However, the firm returned to profitability in the first three months of 2009, thanks primarily to record sales of corporate bonds.However, the firm returned to profitability in the first three months of 2009, thanks primarily to record sales of corporate bonds.