Deutsche Bank has reported potential EU sanctions violations to regulators after discovering it accepted deposits exceeding €100,000 from individuals subject to sanctions restrictions. The German lender uncovered these cases within its retail unit following the establishment of a task force to review controls after Germany tightened its sanctions enforcement regime in February.

The bank's self-reporting comes months after German prosecutors raided its Frankfurt headquarters in January as part of a separate money-laundering investigation linked to Russian oligarch Roman Abramovich. The February regulatory changes, driven by an EU directive, introduced stricter criminal penalties and eliminated grace periods, requiring banks to act more swiftly to identify and block prohibited transactions involving Russian nationals or entities.

EU sanctions specifically prohibit banks from accepting deposits above €100,000 from Russian nationals, residents, or entities established in Russia. Deutsche stated it continuously reviews its sanctions compliance processes and takes action when weaknesses are identified, including measures to adapt and improve controls. The Bundesbank, responsible for sanctions enforcement in Germany, declined to comment on the matter.