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German regulator threatens Solaris with fines for AML controls

News | Digital Identity, Security & Online Fraud | 15 Jul 2024

BaFin, the German bank regulator, has threatened to fine embedded finance platform Solaris if it doesn’t meet deadlines to improve its AML controls and other shortfalls.

AML, regulation, compliance, embedded finance

BaFin imposes EUR 9.2 million fine on N26

News | Digital Identity, Security & Online Fraud | 21 May 2024

The German Federal Financial Supervisory Authority (BaFin) has demanded that digital bank N26 pay nearly EUR 9.2 million due to the latter’s money laundering misconduct. 

regulation, financial services, AML, money laundering, terrorism, CFT

BaFin fines Commerzbank over AML regulation breach

News | Digital Identity, Security & Online Fraud | 23 Apr 2024

The German Federal Financial Supervisory Authority (BaFin) has demanded bank Commerzbank pay a fine of EUR 1.45 million over AML regulation breaches. 

AML, money laundering, compliance, financial data, financial services

Crypto Finance obtains four licences in Germany

News | Cryptocurrencies | 13 Feb 2024

Switzerland-based Crypto Finance has obtained four licences from the German Federal Financial Supervisory Authority (BaFin).

cryptocurrency, expansion, regulation, digital assets

BitGo obtains a crypto custody licence in Germany

News | Cryptocurrencies | 03 Nov 2023

US-based crypto custodian BitGo has obtained a cryptocurrency custody licence in Germany from the Federal Financial Supervisory Authority (BaFin).

cryptocurrency, digital assets, regulation, compliance

BaFin appoints monitor at Deutsche Bank

News | Digital Identity, Security & Online Fraud | 02 Oct 2023

Germany’s regulator BaFin has appointed a special monitor at Deutsche Bank to oversee its strategy for handling customer service problems at its Postbank unit.

compliance, mobile banking, AML, regulation, financial services, financial institutions, customer experience

Cyberattack on BaFin's website

News | Digital Identity, Security & Online Fraud | 04 Sep 2023

The German Federal Financial Supervisory Authority’s (BaFin) website has been affected by a cyberattack, leaving it partially accessible.

cybercrime, cybersecurity, data breaches, malware

BaFin warns of new Godfather banking and crypto malware

News | Cryptocurrencies | 10 Jan 2023

Germany’s Federal Financial Supervisory Authority (BaFin) has issued a warning about a new crypto malware named Godfather.

crypto, malware, BaFin, data protection

BaFin warns of "massively growing" shadow banking sector

News | Digital Identity, Security & Online Fraud | 19 Dec 2022

The German Federal Financial Supervisory Authority (BaFin) has expressed alarm over the surge in shadow banking.

online security, cybersecurity, banking, mobile banking, cryptocurrency

Bitpanda secures crypto licence from Germany's financial regulator

News | Cryptocurrencies | 23 Nov 2022

Austria-based trading platform Bitpanda has secured a Crypto Custody and Proprietary Trading licence from Germany’s financial regulator (BaFin).

cryptocurrency, expansion, BaFin, regulation