BaFin Fines abcfinance €90,000 for Money Laundering Reporting Failures

Germany's Federal Financial Supervisory Authority (BaFin) has fined abcfinance GmbH a total of €90,000 for violations of the Money Laundering Act, the regulator announced.

The company submitted several suspicious activity reports late in April 2025, according to BaFin.

Under German rules, financial services institutions must file a suspicious activity report with the Financial Intelligence Unit (FIU) if they have reason to believe that a transaction or other business event could be linked to money laundering or terrorist financing. Such reports must be submitted without delay, allowing the FIU to quickly take further steps, such as forwarding the information to law enforcement agencies.

BaFin said abcfinance GmbH violated its reporting obligation.