AML News & Analysis

Deutsche Bank (DB) reports potential EU sanctions breach involving €100K deposits

Deutsche Bank (DB) has informed regulators of possible violations of EU sanctions involving deposits over €100,000 ($117,598) from clients subject to restrictions. This follows the bank's establishment of a task force to enhance internal compliance controls after Germany's sanctions enforcement changes in February. Under EU rules, banks are prohibited from accepting large deposits from certain Russian clients. The self-report comes amid ongoing investigations into the bank’s historical transaction handling related to sanctioned individuals, increasing scrutiny on its compliance processes.