Several other institutions besides Deutsche Bank have been fined by authorities in the US and Europe for not properly checking up on the beneficial owners of shell companies that send money through their accounts.
It is suspected that bank employees helped customers set up offshore firms in tax havens.
As Trump's former top aide Steve Bannon said in early 2018, Special Counsel Robert Mueller's investigation into Trump's campaign will largely deal with the president's finances with the bank. The German authorities began looking into the potentially illegal actions of the country's largest bank as a result of those document leaks.
The investigation emerged from an analysis of documents leaked from tax havens in recent years, including the 2016 "Panama Papers", said Frankfurt prosecutors' spokeswoman Nadja Niesen.More news: Don't expect big interest rate hikes, Fed chief Powell says
Deutsche Bank shares were down more than 2 percent by 1409 GMT and have lost nearly half their value this year.
It's been a tough few weeks for Deutsche after reports that its head of the Americas, Tom Patrick, would leave the bank by year-end alongside a raft of other senior management changes.
British banking authorities said at least 29 Deutsche Bank employees were involved in the scam, while United States regulators ordered the bank to fire seven employees, including directors and vice-presidents.
According to a statement from German prosecutors, two employees, aged 46 and 50 were the targets of the raids.
It was fined more than $797 million by USA and United Kingdom authorities in January 2017 for allowing customers to transfer more than $13 billion out of Russian Federation in what regulators said was "highly suggestive of financial crime".
Soon afterwards, the US Federal Reserve ordered a further fine of $41 million over gaps in the bank's money laundering surveillance. This year, the bank saw its credit rating downgraded, its CEO ousted and its stock price hit a record low.
A Deutsche Bank executive director has said the lender played only a secondary role as a so-called correspondent bank to Danske Bank.
The trouble with authorities comes at a time when Deutsche continued to face problems with its business.