Overview
- The UK Treasury’s sanctions office, OFSI, fined Deutsche Bank’s London branch £165,000 for processing two payments tied to a sanctioned Russian owner.
- The transfers in June and July 2022 totaled £635,618.75 to Okko, a video platform owned at the time by sanctioned JSC New Opportunities.
- OFSI said the bank relied on a third‑party screening list that lacked ownership data, so the link to the sanctioned parent did not trigger an alert.
- Deutsche Bank voluntarily disclosed the payments, settled the case, and said it has strengthened its sanctions controls, which reduced the penalty.
- UK authorities have stepped up enforcement of Russia measures, with fewer than 20 civil penalties since 2019, including a recent fine for Bank of Scotland.