BaFin relaxes growth restrictions on N26 following AML improvements
By 
Aaron Nicodemus2024-05-29T20:31:00
German financial regulatory authority BaFin lifted growth restrictions on N26, after the digital bank made improvements to its anti-money laundering (AML) program.
N26 said in a press release Monday that BaFin will lift the restrictions as of Saturday. The regulator previously capped the number of new customers the bank could onboard each month at 60,000.
“The news follows a period of close exchange between N26 and the regulator to combat financial crime and money laundering, which will continue even after the growth restriction ends,” the bank said.
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