German online bank with worldwide offices fined €4.25m

Mark Battersby
clock • 1 min read

Berlin-headquartered bank N26 has been fined €4.25m by the German financial services regulator for weak anti-money laundering practices. The fine from the Federal Financial Supervisory Authority (BaFin) was imposed because of the delayed submission of less than 50 suspicious activity reports in the area of anti-money laundering, relating exclusively to the years 2019 and 2020. Currently, N26 has more than seven million customers in 25 markets. The company employs more than 1.500 employees across eight office locations: Berlin, Barcelona, Madrid, Milan, Paris, Vienna, New York and São ...

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