S
Solaris Faces Hefty Fine for Late Anti-Money Laundering Reporting Amidst Germany’s Push for Financial Transparency!
The German financial regulator BaFin has levied a significant penalty on Berlin-based FinTech Solaris for its systemic failure to submit suspicious money laundering reports timely. The authority announced a fine of 6.5 million euros against Solaris, underscoring persistent vulnerabilities within Germany's financial sector to money laundering activities, despite Frankfurt's recent victory in securing the headquarters for the EU’s new anti-money laundering authority, AMLA.