Deutsche Bank reports itself to regulator over Russian clients
The decision comes following an internal task force uncovering instances of Russian retail-client deposits
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[FRANKFURT] Deutsche Bank has reported cases of potential breaches of sanctions involving Russian clients to German financial regulator Bundesbank, a source said.
The decision came after an internal task force uncovered instances of Russian retail-client deposits exceeding the limit of 100,000 euros (S$150,126), the source added, asking for anonymity while discussing private information.
The task force was set up after Germany updated its legislation in February to implement the EU sanctions regime.
“Deutsche Bank continuously reviews its processes related to sanctions compliance, as part of the ordinary course of business,” Deutsche Bank said.
“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.”
A Bundesbank spokesperson declined to comment. German newsletter Finanz-Szene reported the news earlier.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Banks are required to maintain strict controls to prevent the transfer of illicit funds. Deutsche Bank has invested heavily in controls after being criticised for lapses.
It was raided by German authorities earlier in 2026, as part of a money-laundering probe looking at past dealings by staff who had worked for companies linked to the now-sanctioned Russian billionaire Roman Abramovich.
The raid has set back the lender’s long-running effort to shed a previous reputation as a magnet for scandals.
Abramovich has denied any wrongdoing. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
