German financial regulator BaFin has ordered Deutsche Bank to address issues regarding money laundering and terrorist financing.

BaFin has evidence indicating that Salvataracrowd Ltd, San Gwann, Malta, is offering capital investments in the form of investment opportunities in Rookie Plan, Rookie Plan UNLIMITED, Beginner Plan, Expert Plan and MASTER Plan cannabis plants to the public in Germany.

On 21 June 2022, BaFin held its first digital conference on the supervision of IT at insurance undertakings and pension funds, with over 660 participants and many questions in the chat room. The event offered information on current developments regarding information security in the insurance sector and the area of regulation. It also addressed the amendments to BaFin’s Supervisory Requirements for IT in Insurance Undertakings, findings from BaFin’s IT inspections, DORA, and the new reporting requirement for outsourcing.

Institutions for occupational retirement provision (IORPs) must carry out an own-risk assessment and provide BaFin with a report on this risk assessment. BaFin has evaluated these reports and identified points requiring further clarification, in addition to room for improvement. In order to provide assistance for the institutions, BaFin has formulated general guidance on own-risk assessments.

On 2 August 2022, BaFin imposed an administrative fine amounting to 5,100,000 euros on Bank of America Corporation.

The risk landscape is heterogeneous and is constantly changing

The coronavirus pandemic marks a crucial moment for online banking and cashless payment. BaFin President Felix Hufeld on new customer habits, innovation in the banking sector and the consequences of the crisis.