meta_id 3395240

On May 29, 2026, the Federal Financial Supervisory Authority (BaFin) announced it has ordered CRONBANK Aktiengesellschaft, based in Dreieich, to implement a comprehensive package of remedial measures to establish proper business organisation and effective anti-money laundering prevention. A special audit completed in August 2025 identified serious deficiencies in the bank's credit business and anti-money laundering prevention, breaching requirements under the Banking Act (Kreditwesengesetz) and the Money Laundering Act (Geldwäschegesetz). BaFin determined the bank lacked adequate business organisation as required under Section 25a(1) of the Banking Act. Proper business organisation requires credit institutions to maintain effective risk management, adequate anti-money laundering and counter-terrorism financing prevention, appropriate credit risk assessment procedures, and proper collateral valuation. BaFin's ordered measures require CRONBANK to remediate identified deficiencies within a specified timeframe and maintain enhanced capital requirements until organisational gaps are closed. The bank must also submit regular progress reports on remediation efforts. Additionally, BaFin appointed a special representative to monitor compliance with the measures and report ongoing progress to the regulator. BaFin issued these orders under Sections 25a(2), 44(1), 45c(1), and 6c(1) of the Banking Act, and Section 51(2) of the Money Laundering Act. The orders became final on April 14, 2026 and May 6, 2026 respectively. CRONBANK must now implement the required organisational and capital measures while working under the oversight of BaFin's appointed special representative to address the identified compliance gaps.