Dutch Central Bank (DNB) fines Neobank Bunq €2.6M  for serious deficiencies in its AML controls during the period under review, from Jan 2021 to May 2022

The penalty followed multiple warnings over several years and was based on four cases between January 2021 and May 2022, where Bunq failed to adequately investigate suspicious transactions or maintain proper customer monitoring. Despite previous interventions, Bunq did not implement lasting improvements, prompting DNB to impose the fine…