German authorities search BNY Mellon bank in cum-ex probe

German authorities searched the Frankfurt office of bank BNY Mellon (BK.N) on Tuesday in connection with an ongoing investigation into the multi-billion euro tax fraud scheme known as “cum-ex”, the bank said.

“BNY Mellon’s Frankfurt office was visited today by the German authorities,” said the bank.

“We continue to cooperate fully with the authorities in an ongoing investigation relating to legacy tax matters. There has been no interruption to services that we provide to clients,” it added in an email.