Bunq fined €2.6m in the Netherlands for monitoring breaches

Inspection of four customer files was sufficient for the Dutch National Bank to impose a fine of €2.6 million (US$3 million) on bunq N.V., the online bank, for non-compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en terrorismefinanciering - Wwft) between January 2021 and May 2022.

Inspection of four customer files was sufficient for the Dutch National Bank (DNB) to impose a fine [1] of €2.6 million (US$3 million) on bunq N.V., the online bank, for non-compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en terrorismefinanciering - Wwft) between January 2021 and May 2022.