{"id":18151,"date":"2026-05-21T07:11:44","date_gmt":"2026-05-21T07:11:44","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/18151\/"},"modified":"2026-05-21T07:11:44","modified_gmt":"2026-05-21T07:11:44","slug":"latest-deutsche-bank-fined-165000-for-breaching-russia-sanctions","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/18151\/","title":{"rendered":"LATEST: Deutsche Bank fined \u00a3165,000 for breaching Russia sanctions"},"content":{"rendered":"

By PAUL O\u2019DONOGHUE, Senior Correspondent<\/p>\n

UK officials have fined the London office of Deutsche Bank \u00a3165,000 ($221,000) for breaching Russia sanctions.<\/p>\n

The OSFI (Office of Financial Sanctions Implementation) said that in 2020, the lender processed two payments worth a combined \u00a3636,000 for a sanctioned company.<\/p>\n

This is the second OFSI monetary penalty case resolved through settlement.\u00a0<\/p>\n

The OSFI applied a 45% discount to the original \u00a3300,000 penalty, which it said reflected \u201cvoluntary disclosure and settlement\u201d.<\/p>\n

A spokesperson for Deutsche Bank said: \u201cDeutsche Bank takes \u200bsanctions compliance extremely seriously.<\/p>\n

\u201cWe have \u200cstrengthened \u2060and continue to strengthen all aspects of our sanctions compliance framework and associated processes.\u201d<\/p>\n

Deutsche Bank Russia sanctions breach<\/p>\n

The payment beneficiary in this case, Okko, is a Russian app developer that operates an online media streaming platform, the OSFI said in a notice<\/a>.<\/p>\n

Sberbank, Russia\u2019s largest lender, bought Okko in 2018. In May 2022, it sold Okko to an entity called JSC New Opportunities. This occurred just after the UK government sanctioned Sberbank in April 2022.<\/p>\n

The UK government sanctioned JSC New Opportunities in June 2022. The OSFI said this meant that Okko \u201cagain became subject to prohibitions\u201d as its owner was a sanctioned entity.<\/p>\n

In June and July 2022, Deutsche Bank London Branch (DBLB) processed two payments sending a combined \u00a3636,000 to Okko.<\/p>\n

The OSFI said the payments did not trigger alerts because: \u201cAt the time of the Payments, the screening lists provided by DBLB\u2019s third-party screening vendor did not include data in relation to Okko\u2019s ownership.\u201d<\/p>\n

The OSFI said the case highlighted the importance of:\u00a0<\/p>\n

Maintaining robust sanctions screening systems and processes.<\/p>\n

Having \u201cstrong onboarding procedures and regular, risk\u2011based customer reviews\u201d, especially in higher risk jurisdictions.<\/p>\n

The value of \u201ccomplete, detailed, and prompt voluntary disclosure of potential breaches to OFSI\u201d.<\/p>\n

The incident \u201cunderlines the importance of firms maintaining effective sanctions controls,\u201d the OSFI said. \u201cParticularly where ownership and control structures determine whether restrictions apply.\u201d<\/p>\n

\"AMLWe hope you enjoyed reading this article<\/p>\n

If you would like unlimited access to AML Intelligence premium articles, newsletter delivered twice a week, access to our Global Bank Fines and Penalties database, free access to Boardroom Series events and much more, select one of our subscription options and become a subscriber!<\/p>\n

View subscription options<\/a>If you have an account, log in<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"By PAUL O\u2019DONOGHUE, Senior Correspondent UK officials have fined the London office of Deutsche Bank \u00a3165,000 ($221,000) for…\n","protected":false},"author":2,"featured_media":18152,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21213],"tags":[21214,21818,1831,55,1875],"class_list":["post-18151","post","type-post","status-publish","format-standard","has-post-thumbnail","category-deutsche-bank","tag-deutsche-bank","tag-osfi","tag-russia","tag-sanctions","tag-uk"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/18151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=18151"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/18151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/18152"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=18151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=18151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=18151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}