Dutch Central Bank Fines Bunq Over AML Failures

August 27, 2025 • FinTech News

The Dutch central bank (De Nederlandsche Bank, or DNB) has issued a €2.6 million fine to digital bank bunq. This penalty addresses serious deficiencies in the bank’s anti-money laundering (AML) compliance systems. The fine follows a detailed supervisory review conducted between January 2021 and May 2022. This inspection uncovered major gaps in bunq’s transaction monitoring and reporting practices.

Specific Compliance Failures Identified

According to DNB’s findings, bunq failed to properly investigate transaction monitoring alerts. Consequently, potential indicators of financial crime often went unexamined. In some instances, the bank completely ignored these warnings. Additionally, the review found inconsistent handling of similar transactions. Some cases were reported to the Financial Intelligence Unit (FIU), while others with identical characteristics were not. Notably, bunq could not explain these reporting discrepancies.

History of Regulatory Issues and Enforcement Action

DNB justified the fine based on the severity of the compliance failures. Moreover, the bank had repeatedly failed to address previously identified issues. Between 2018 and 2023, regulators conducted multiple examinations of bunq’s operations. Each inspection revealed compliance deficiencies. Despite earlier enforcement actions and previous fines, the bank showed no sustained progress in improving its AML systems. Therefore, DNB deemed this latest punitive measure necessary.

Bunq’s Response and Appeal Process

Bunq has formally appealed the fine and disputes the central bank’s findings. A bank spokesperson emphasized that bunq takes its role as a financial gatekeeper seriously. The bank has significantly invested in advanced technology and system upgrades. Furthermore, bunq continues strengthening its compliance processes, including those related to the specific 2021–2022 cases cited in the DNB report.

Broader Context of Dutch AML Reform

This enforcement action occurs during broader debates about the Netherlands’ anti-money laundering strategy. Earlier this year, Dutch Finance Minister Eelco Heinen questioned the effectiveness of the current compliance framework. He called for a new risk-based approach to combat money laundering and terrorist financing. The bunq case highlights the ongoing tension between fintech innovation and strict compliance requirements designed to protect the financial system.

Industry Implications and Regulatory Trends

The fine reflects a larger pattern of increased regulatory scrutiny on digital banks’ AML practices. As neobanks expand their services and customer bases, regulators worldwide are focusing more closely on their compliance systems. This case clearly demonstrates that regulators hold digital banks to the same standards as traditional financial institutions, especially regarding money laundering prevention.

Technical Compliance Challenges for Digital Banks

Digital banks like bunq face unique challenges in implementing effective AML systems. Their rapid growth and technological infrastructure complicate compliance efforts. The high volume of transactions processed through digital platforms requires sophisticated monitoring systems. These systems must adapt continuously to emerging money laundering techniques. This case underscores the vital importance of investing in robust compliance technology even during periods of rapid expansion and innovation.

Future Outlook and Compliance Expectations

The bunq case will likely influence how other digital banks approach their AML compliance programs. Regulators are expected to maintain strong oversight of the fintech sector, particularly regarding financial crime prevention. Therefore, financial technology companies must balance innovation with compliance. They need to ensure that their growth does not compromise regulatory requirements. Ultimately, this case serves as an important reminder that compliance and innovation must advance together.