By Kyle Brasseur2023-07-20T14:30:00
Germany’s market regulator announced the extension of mandates it ordered at mobile bank N26 in 2021 to require the bank to address observed weaknesses in its anti-money laundering (AML) controls.
BaFin acknowledged Monday that N26 has made progress but “still has deficiencies” it must resolve. The extension applies to a May 2021 order that appointed a special commissioner to monitor the bank’s implementation efforts to resolve shortcomings identified regarding information technology monitoring and customer due diligence.
N26 was also told to ensure it has adequate personnel, technical, and organizational resources to comply with its obligations under AML law.
2024-05-29T20:31:00Z By Aaron Nicodemus
German financial regulatory authority BaFin lifted growth restrictions on N26, after the digital bank made improvements to its anti-money laundering program.
2024-05-22T18:31:00Z By Aaron Nicodemus
Germany’s financial supervisory authority issued a fine of €9.2 million euros against mobile bank N26 for “systematically” submitting late anti-money laundering reports.
2024-04-23T15:57:00Z By Jeff Dale
Germany’s financial supervisory authority issued total fines of €1.45 million (U.S. $1.6 million) against Commerzbank AG to settle allegations of inadequate monitoring and anti-money laundering controls.
2025-07-11T21:14:00Z By Oscar Gonzalez
The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
2025-07-11T19:43:00Z By Aaron Nicodemus
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
2025-07-09T18:02:00Z By Adrianne Appel
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.
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