The German Federal Financial Supervisory Authority (BaFin) today announced that it has imposed fines totaling €90,000 on abcfinance GmbH for violations of the Money Laundering Act.

The company submitted late several suspicious activity reports in April 2025.

Financial services institutions must submit a report to the Financial Intelligence Unit (FIU) if they have reason to believe that a transaction or other business event could be related to money laundering or terrorist financing.

These suspicious activity reports must be submitted without delay. This allows the FIU to quickly initiate further steps, if necessary, such as forwarding the information to law enforcement agencies.

abcfinance GmbH violated its reporting obligation.