€2.6 Million Fine for Serious and Repeated AML Failures (2025) (high) The Dutch Central Bank (DNB) imposed an administrative fine of €2.6 million on Bunq B.V. on May 6, 2025 (announced August 25, 2025), for 'serious deficiencies' and 'persistent lapses' in its Anti-Money Laundering (AML) controls. DNB found Bunq was 'deficient' in following up on transaction monitoring alerts across four high-risk customer files reviewed, covering the period from January 2021 to May 2022. DNB noted that previous enforcement actions (2018-2023) failed to achieve 'sustained compliance.' Bunq has formally objected to the fine.. Pattern of Prior AML Violations and Litigation History (medium) Bunq has a history of regulatory disputes and confirmed AML violations preceding the 2025 fine. In 2022, Bunq was involved in a landmark legal case against DNB regarding the use of AI in AML compliance. While the court ruled that using AI was not banned, it also confirmed that Bunq had previously violated anti-money laundering rules. In August 2023, judges in Rotterdam reduced two previous DNB fines levied against Bunq for failing to carry out proper money laundering checks, indicating a pattern of non-compliance issues dating back several years.. High Customer Fraud Incidence and Security Vulnerability (high) Bunq customers have been victims of significant online fraud, with reports indicating 'tens of thousands of euros' were stolen from accounts in less than an hour. This suggests a potential weakness in security protocols or customer protection/fraud response mechanisms. Furthermore, there are numerous, ongoing reports (dating from Aug 2023 to Mar 2025) of widespread phishing (email/SMS) campaigns targeting Bunq customers, often related to fake security updates, two-factor authentication, or suspicious login attempts.. Reputational Backlash over Treatment of Critical Customers (medium) Bunq is facing public backlash and reports regarding its 'treatment of critical customers,' including claims of harassment. Additionally, the bank initiated summary legal proceedings against the Dutch newspaper NRC in response to a critical article.