Anti-Financial Crime & Financial Crime Compliance
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Compliance, Financial Crime

BaFin threat could act as ‘salvation’ for troubled N26

Image: N26

By Elizabeth Hearst for AMLi

German digital bank N26 has fared tumultuously of late, with concerns raised regarding its anti-money laundering framework, and presence of over 1600 fraudulent accounts. 

It’s believed that German financial regulator BaFin is keen to avoid another ‘Wirecard’ scandal, and have warned the bank it may be prevented from accepting new customers if it fails to get its house in order. 

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