Dutch digital bank Bunq has been fined €2.6 million by De Nederlandsche Bank (DNB), the country’s central bank, after regulators found significant shortcomings in the bank’s anti-money laundering (AML) controls. The fine, imposed in May 2025, centers on four high-risk customer cases between January 2021 and May 2022, during which Bunq failed to follow proper procedures to investigate suspicious transactions and monitor account activity effectively. These lapses, DNB concluded, created vulnerabilities that could have allowed illicit financial activity to go undetected.
Bunq has formally lodged an objection to the fine, stressing that it “takes its gatekeeper role very seriously” and pointing to the use of advanced monitoring technology and ongoing system improvements. The bank also noted that it has implemented stricter compliance measures in response to the issues highlighted by regulators, signaling its commitment to strengthening AML oversight.
The DNB’s action is part of a broader trend of regulatory scrutiny aimed at digital-only banks across Europe. While neobanks like Bunq offer faster onboarding, user-friendly interfaces, and innovative financial services, regulators are increasingly concerned that their streamlined operations may sometimes leave gaps in compliance, particularly in monitoring high-risk customers and transactions.
Analysts note that this case underscores the delicate balance digital banks must strike between innovation and regulatory compliance. Bunq, which has grown rapidly in the European market due to its mobile-first approach, now faces the challenge of maintaining its competitive edge while ensuring that its AML systems meet evolving regulatory standards.
The four cases cited by DNB involved clients who had unusual transaction patterns and high-risk profiles. In each instance, Bunq failed to take adequate follow-up actions, such as verifying the source of funds or conducting enhanced due diligence. Although the exact details of the customers’ identities have not been disclosed, regulators highlighted that the bank’s internal procedures were not fully adhered to, raising concerns about potential exposure to money laundering.
Bunq’s appeal to the fine indicates a willingness to engage with regulators and potentially challenge aspects of the DNB’s assessment. At the same time, the case serves as a cautionary tale for other fintechs and neobanks that rapid growth and technological innovation must be matched by robust compliance frameworks to avoid regulatory penalties.
The incident also reflects a broader trend in the financial sector, where regulators are increasingly targeting digital institutions to ensure they are not used as conduits for illicit activity. With financial crimes becoming more sophisticated and cross-border, authorities are demanding that all banks, including fintech startups, implement strong AML monitoring, staff training, and automated controls to detect suspicious behavior effectively.
For Bunq, the €2.6 million fine is not just a financial penalty but a reputational signal that compliance lapses—even in a digital-first environment—can carry serious consequences. The bank’s response and ongoing reforms will likely influence how regulators view other fast-growing neobanks in the Netherlands and across Europe.
This case highlights the evolving landscape of banking compliance, where innovation must coexist with vigilance, transparency, and regulatory cooperation to maintain the integrity of the financial system.
