Tag: DSV Group

BaFin Restricts High-Risk Business Activities Of Payone Over Money-Laundering Issues!

On July 26, 2023, the German regulator BaFin prohibited Payone from conducting transactions for certain business customers belonging to the high-risk portfolio due to high money laundering risks and serious deficits in money laundering prevention. BaFin has also ordered a ban on new customers in this area to prevent the e-money institution from being misused for money laundering.