The German financial regulator BaFin keeps a close eye on 25 banks, writes business newspaper Handelsblatt on the basis of documents it has requested from the government. At those banks there is an increased risk of money laundering. BaFin will check the systems for combating and tracing money laundering at those banks.

If those checks do not lead to satisfaction with the supervisor, BaFin can place a special representative at a bank to put things in order. This has already happened with Deutsche Bank and N26 internet bank.

In total, BaFin controls around 1500 banks in Germany. They are divided into four categories, of which 25 are in the highest risk group. Names of these were not disclosed, but it would be a “colorful mix” of small banks and large international banks.

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