US EditionDeutsche Bank Self-Reports Russia Sanctions Breaches to Regulators
An internal review found several cases that may have exceeded the EU's €100,000 cap on deposits from Russian retail customers, sources said.
13 Articles
13 Articles
The assets of one or more customers were above the permitted ceiling of 100,000 euros. The omissions had been noticed by a working group of the bank.
Deutsche Bank has "shown itself in the financial supervision: With customers with Russia-related issues, sanctions regulations have apparently not been consistently adhered to. Internally, a task force is now to clarify the processes.
Deutsche Bank notifies supervisors of possible Russia sanctions breach, source says
Deutsche Bank has notified its supervisors of a possible breach of sanctions rules that limit deposits of Russian individuals to less than 100,000 euros ($117,940), a person with knowledge of the matter said on Friday.
Deutsche Bank reports possible Russian sanctions breaches to German supervisor | MLex | Specialist news and analysis on legal risk and regulation
Deutsche Bank has reported possible breaches of sanctions related to Russian clients to Germany’s central banking authority. “Whenever we identify potential issues, we put in place appropriate measures to adapt and improve our processes and we inform the relevant supervisory authorities proactively. We cannot comment further beyond this,” a Deutsche Bank spokesperson said.
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