View source for German Watchdog Extends Measures At N26 To Prevent Money Laundering

FRANKFURT, July 17 (Reuters) - German [https://www.google.com/search?q=financial%20regulator&btnI=lucky financial regulator] BaFin on Monday said it had extended its measures in place with online bank N26 to prevent money laundering, the latest episode of stepped-up scrutiny of one of Europe's most valuable fintechs.<br> Constraints since 2021 that have now been extended include a special monitor at the bank and a limit on new customers at 50,000 per month.<br> BaFin said that despite "some progress, the institution still has deficiencies in its systems".<br> N26 said that it has made "made significant investments in anti-money laundering measures" and is "committed to comply with all aspects of the order as quickly as possible".<br> N26, which reports more than 8 million customers, says it does business in 24 countries, mainly in Europe.<br> Bafin said it was also requiring of N26 the establishment of adequate IT monitoring, stepped up quality assurance and the establishment of effective outsourcing controls.<br> (Reporting by Tom Sims and [https://en.wiktionary.org/wiki/Matthias Matthias] Inverardi,  [https://tmslot88gacor.blogspot.com/ daftar winstar88] Editing by Rachel More, Friederike Heine and Bernadette Baum)<br>