According to the German regulatory body, N26 recently filed reports of money laundering
N26, New Deutsche Bank It recently updated its profitability rates on its more premium accounts as well He had a setback recently By German regulatory bodies. Reason: The Federal Financial Supervisory Authority (BaFin) reported a delay in delivery Documents related to anti-money laundering controls of capital, which implies N26 a A fine of 9.1 million euros.
Legal strike for N26
The German fintech entity has witnessed It is approved by the German Financial Supervisory Authority (BaFin). With a fine of 9.1 million euros By not documenting within the minimum period Suspicions of money laundering through their accounts. N26, despite the fine, also insists on this Make large investments To prevent customers from using these neobank accounts Money laundering or committing tax crimesBut these justifications were not enough to avoid the sanctions imposed by Germany.
In fact, this is not the first time that Germany has imposed a fine on N26. Less than a year ago, for similar reasons, the German New Bank imposed He also received a fine of $4.3 million Because they are slow to report possible suspicious activities through their bank accounts. In fact, in this case, the punishment is also implied Limit the number of new customers to 50,000 That N26 can be scored every month.
Depending on the account category you sign up for, you will have more or less benefits as an N26 customer.
One of the most popular new banks
This news may tarnish the image of N26 at a crucial moment, because today it is one of the most successful neobanks in the world. It has a wide range of products and services for companies and individuals, and in Spain alone it brings together more than 1.5 million customers, thus being one of the most prominent 100% digital banking entities in our country, alongside others such as Revolut, wise or new entities such as B100.
On the other hand, N26 does not limit its business solely to savings and offer banking services, as it has also been expanding into the world of investment for some time, even showing itself as a new cryptocurrency-compatible bank. With all of this, as well as future announcements on the way, N26 continues to show itself as one of the major fintech entities to follow.
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