Dutch Fintech bunq Fined €2.6 Million for “Serious Deficiencies” in AML Controls

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The national central bank of the Netherlands, De Nederlandsche Bank (DNB), has publicly announced a €2.6 million ($3 million) administrative fine on the Amsterdam-based neobank and fintech bunq B.V. for “serious deficiencies” in its AML controls. 

DNB says it imposed the fine because: “bunq did not sufficiently follow up on signals and irregularities in four customer files, resulting in money laundering risks not being detected or not being detected in time. As a result, bunq did not have sufficient insight into these customers and their transactions. Given the severity and extent of the deficiencies in these files, DNB considers a fine both necessary and appropriate.” 

The fine relates to failures between January 2021 and May 2022. It was originally levied on May 6, 2025, but has only recently been publicly announced. DNB highlighted bunq’s inadequate ongoing monitoring, failures to sufficiently follow up on transaction monitoring alerts, and consistently report suspicious transactions to FIU-NL (the Dutch Financial Intelligence Unit).

In its announcement, DNB also stressed the critical role banks play as gatekeepers in combating financial crime under the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). DNB had already taken enforcement action against bunq for non-compliance with the Wwft following previous examinations between 2018 and 2023.

bunq formally lodged an objection to the decision on May 9, 2025. The outcome of the appeal is pending.