N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
BaFin
Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
Germany’s BaFin provides updated order on the prevention of money laundering at N26
N26 will reportedly continue to be restricted to 50,000 new customer acquisitions per month.
N26 pays €4.25m fine for money laundering failures
German digital bank hit with fine by country’s financial regulator.
BaFin employees increasingly traded Wirecard shares
2.4% of all reported private financial transactions by its staff were transactions with Wirecard in H1.
BaFin gets “sovereign powers” after Wirecard scandal
The plan will also strengthen APAS, the body that oversees auditing firms in Germany.
Wirecard’s former CEO Markus Braun arrested
Munich police say a criminal investigation into Wirecard has been launched.
Wirecard shares plummet as it announces €1.9bn of missing cash
EY couldn’t find the cash balances — which represent roughly a quarter of its balance sheet.
EY sued over Wirecard audit after management board comes under investigation
German regulator alleges Wirecard gave “misleading signals” for its stock market price.
German wealthtech Elinvar gets Goldman Sachs injection
The digital platform for asset and wealth managers wants to expand throughout Europe.
N26 under German regulator’s microscope
The BaFin has highlighted issues with staffing and communications.
Deutsche Bank shares plummet over Danske money laundering mess
The bank’s shares have fallen 48% this year.
