The Penalty: The UK’s sanctions watchdog (OFSI) fined Deutsche Bank’s London branch £165,000 for a “serious” breach of Russian sanctions. The penalty was reduced by 45% (down from £300,000) because the bank voluntarily disclosed the error and cooperated with regulators. The Violation: In June and July 2022, the bank processed two payments totaling more than … Continue reading Deutsche Bank fined for Russia sanctions breaches linked to streaming platform payments