Deutsche Bank's London branch was fined £165,000 by the UK Treasury's Office of Financial Sanctions Implementation (OFSI) for processing payments totaling £635,618.75 linked to a sanctioned Russian entity, Okko, owned by JSC New Opportunities. The breach occurred in mid-2022 due to reliance on a third-party sanctions screening provider that failed to flag the entity. OFSI emphasized that financial institutions remain fully responsible for compliance with sanctions despite outsourcing screening.
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