Dutch neobank Bunq has been fined €2.6 million by De Nederlandsche Bank (DNB) for alleged “serious deficiencies in its anti-money laundering (AML) controls during the period under review, from January 2021 to May 2022”, according to a statement from the central bank.
DNB says the fine, issued on 6 May 2025, comes after the central bank conducted an examination into the way in which Bunq complies with the Wwft (the country’s Anti-Money Laundering and Anti-Terrorist Financing Act), in which it says it “assessed how Bunq analyses and assesses its risks of facilitating money laundering and terrorist financing”.
“In addition, it examined customer files and the transaction monitoring alerts associated with these files and conducted interviews with relevant officers,” DNB says.
The central bank claims that the “high-risk files examined showed that Bunq was deficient in following up on its transaction monitoring alerts”.
“As a result, signals of possible financial crime were not investigated in sufficient depth, if at all,” DNB claims.
The central bank claims that Bunq “failed to exercise adequate ongoing monitoring in the four files on which DNB’s administrative fine is based”.
“As a result, Bunq did not have sufficient insight into these customers and their transactions,” DNB continues. “Given the severity and extent of the deficiencies in these files, DNB considers the fine imposed both necessary and appropriate,” the central bank adds.
Bunq has formally lodged an objection to DNB’s decision. A spokesperson for the neobank tells FinTech Futures: “At Bunq, we take our role as gatekeeper very seriously. We use the most advanced technology and continuously strengthen our systems – including in response to these four cases from 2021–2022. That being said, we don’t agree with DNB’s decision and have formally objected. Since this is now an ongoing case, we can’t comment further, but we remain confident in our position.
Source: https://www.fintechfutures.com/
