A GERMAN online bank has been called out by the country’s national FinCrime watchdog over lax money laundering controls.
N26 Bank GmbH is now under orders from the German Federal Financial Supervisory Authority (BaFin) to clean up these deficiencies within a set time period.
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axessinvest.de: BaFin warns consumers about website and identity fraud
BaFin
The financial supervisory authority BaFin warns against offers from the website axessinvest.de. The website gives the impression that it is operated by the BaFin-registered MarketAxess NL B.V. branch in Frankfurt. This is not true. It is a case of identity theft.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.
OLAF exposes fraud involving over €870 million
OLAF
In 2024, the European Anti-Fraud Office (OLAF) recommended the recovery of more than €870 million in misused EU funds, according to its annual report released today. OLAF investigators also prevented over €40 million from being improperly spent, reinforcing OLAF’s role as guardian of the EU budget. Over the year, OLAF closed 246 investigations and issued 301 recommendations to national and EU authorities, while opening 230 new investigations.
This report marks not only a strong year of operations, but also OLAF’s 25th anniversary – underscoring a quarter-century of dedicated service in protecting the EU’s financial interests and reaffirming OLAF’s leading role in the fight against fraud.