- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
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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.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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