Bitcoin Group is addressing “serious flaws” in anti-money laundering measures raised by German regulators
November 30th, 2023

German financial regulator BaFin has ordered subsidiaries of Bitcoin Group (ADE) to address some shortcomings in internal anti-money laundering measures. In a notice sent to the group's Futurum Bank unit in October and released publicly on Tuesday, the regulator said it had found "serious deficiencies" in the company's internal security measures, due diligence obligations and suspicious activity reporting systems. Bitcoin Group subsequently issued a statement stating that it was taking steps to address these deficiencies and that there was currently no indication that there were violations of money laundering and terrorist financing laws within the group.

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