Coinbase Fined $25M Over Lapsed Monitoring of 31% of Its European Transactions
Reading Time: < 1 minute
Coinbase Europe has been fined €21.5 million by Ireland’s central bank for major anti-money laundering lapses.
A system configuration error left 30 million transactions, worth over $200 billion, unmonitored for a full year.
The failure led to 2,708 late suspicious activity reports concerning serious crimes. Coinbase admitted the breaches and agreed to the settlement, which now awaits High Court approval.
Follow and like us on
