N26 in the sights of the authorities: I will focus on anti-money laundering controls

N26, the leading mobile bank of German fintech, has once again entered the crosshairs of supervision due to the umpteenth lack of internal controls, governance and compliance, especially in the fight against money laundering and financial crime.

This time the totally digital bank, a start-up founded in 2013 in Berlin and rapidly growing to the current 7 million customers in 25 countries, risks a lot: it risks a squeeze on the expansion of the international network and …