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The Netherlands Authority for the Financial Markets (AFM) has imposed an administrative penalty of €170,000 on digital bank bunq B.V. after determining that the company failed to handle several customer complaints related to online fraud within the timeframe required by law. According to the regulator, the sanction stems from bunq's delayed responses to seven complaints submitted by customers who had fallen victim to online scams. In each of those cases, the affected individu

Mounting financial problems among young people in the Dutch city of Enschede have intensified calls for stricter gambling regulation, with local councillor Meryam Sümer urging the Netherlands government to increase the legal minimum age for online gambling from 18 to 24. Sümer, a representative of the Christian Democratic Appeal (CDA) party and a welfare worker, has also advocated for tighter controls on buy-now-pay-later (BNPL) services and stronger enforcement against gam

The public prosecution department is preparing to initiate legal proceedings against Rabobank over its alleged failure to adhere to regulations concerning money laundering and the financing of terrorism. According to a brief statement released on Wednesday, the bank did not adequately examine “unusual transactions” conducted by its clients over an extended period. The investigation, which is approaching its final stages, focuses on activities spanning from October 2016 throug

The Dutch gambling authority, Kansspelautoriteit (KSA), has issued a penalty order against Polymarket, instructing the cryptocurrency-based prediction platform to halt its operations in the Netherlands or face fines that could reach as much as €840,000 ($994,147). The regulator determined that the platform had violated national regulations by making its services available to Dutch users without the required gambling licence. According to the KSA, the company responsible f

The Netherlands Gambling Authority (KSA) has stepped up its enforcement of anti-money laundering rules in the online gambling sector, issuing a formal warning to TOTO Online after identifying multiple shortcomings in the operator’s compliance with national AML legislation. The regulator said TOTO Online failed to fully comply with obligations under the Money Laundering and Terrorism Financing (Prevention) Act, particularly in relation to the ongoing monitoring of customer r