By Aaron Nicodemus2024-05-22T18:31:00
Germany’s financial supervisory authority issued a fine of 9.2 million euros (U.S. $9.6 million) against mobile bank N26 for “systematically” submitting late anti-money laundering (AML) reports in 2022.
Under German law, reports of transactions related to possible money laundering must be submitted to BaFin “immediately,” the German regulator announced in a translated press release Tuesday.
In July 2023, BaFin extended mandated supervision over N26 after ordering it in May 2021 to improve weak AML controls, with a subsequent $5 million penalty disclosed in September 2021.
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.
2024-04-23T15:57:00Z 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.
2023-10-20T17:45:00Z By Kyle Brasseur
Deutsche Bank was assessed a penalty of €170,000 (U.S. $180,000) by Germany’s financial supervisory authority for failing to timely submit suspicious transaction reports.
2025-09-08T14:27:00Z By Adrianne Appel
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
2025-09-05T18:10:00Z By Aaron Nicodemus
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
2025-09-04T17:31:00Z By Adrianne Appel
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
Site powered by Webvision Cloud