Deutsche Bank Reports Itself to Regulator Over Russia Clients

Deutsche Bank AG has reported cases of potential sanctions breaches involving Russian clients to German financial regulator Bundesbank, according to a person familiar with the matter.

The decision came after an internal task force uncovered instances of Russian retail client deposits exceeding the €100,000 limit, the person said, asking for anonymity discussing private information. The task force was set up after Germany updated its legislation in February to implement the EU sanctions regime.