N26 announces €4.25M fine ahead of regulator; says that it continues to take AML obligations ‘very seriously’ - AML Intelligence
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N26 announces €4.25M fine ahead of regulator; says that it continues to take AML obligations ‘very seriously’

Image: N26

By Dan Byrne for AMLi

German digital bank N26 has moved quickly to alleviate AML concerns by admitting the payment of over €4M in penalties before the regulator has announced it.

The institution – which was voted the “world’s best bank 2021” by a Forbes survey that covered nearly 30 countries – revealed the fine Tuesday, ahead of it being made public by the national regulator BaFin.

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