The Dutch Authority for the Financial Markets has imposed an administrative fine of EUR 170,000 on bunq B.V. for failing to respond in time to seven complaints from customers who were victims of online fraud. The regulator found that bunq provided substantive replies only weeks after the legal deadline had expired, leaving customers in uncertainty while seeking redress for losses linked to payment services. Payment service providers must give a substantive response on all points raised in a complaint within 15 working days of receiving it. The AFM found breaches in seven cases between 10 November 2023 and 12 December 2023 and between 23 April 2024 and at least 1 August 2024. Bunq told the AFM that the customers in the investigation were not legally entitled to compensation, but it nevertheless fully or largely compensated them. The AFM treated that as a mitigating factor, reducing the fine from the EUR 500,000 base amount to EUR 200,000, and then by a further 15% under a simplified settlement, resulting in the final EUR 170,000 penalty. The case is closed through that settlement.
Dutch Authority for the Financial Markets2026-06-08
Dutch Authority for the Financial Markets fines bunq EUR 170000 for late responses to online fraud complaints
The Dutch Authority for the Financial Markets has fined bunq B.V. EUR 170,000 for failing to respond within the legal deadline to seven customer complaints related to online fraud and payment services. The authority found that bunq provided substantive replies only weeks late, but reduced the fine from a EUR 500,000 base amount in light of customer compensation and a simplified settlement, which closes the case.