UK Fines Deutsche Bank Over Sanctions Breach Related to Payments to a Russian-Owned Entity
The UK's Office of Financial Sanctions Implementation (OFSI) has fined Deutsche Bank’s London branch £165,000 for processing payments in 2022 linked to Okko, a video streaming platform owned by the sanctioned entity JSC New Opportunities. The bank had used an external provider for sanctions screening that failed to identify issues with Okko's ownership.
