German FIU warns of rising fraud against neobanks

The Financial Intelligence Unit (FIU) in Cologne reported a sharp increase in suspicious activity reports concerning digital financial service providers in 2025. 108,158 reports were filed, up from 34,357 the previous year, and the share of cases involving neobanks rose from 13% to 29% of all reports.

The FIU, which employs 587 staff and works to combat money laundering and terrorist financing, also highlighted the large‑scale credit‑card fraud case known as “Operation Chargeback”. Criminal networks created about 19 million fictitious online subscriptions between 2016 and 2021, affecting more than 4.3 million people in 193 countries and causing estimated damages of over €300 million. Coordinated raids in ten countries on 4 November 2025 led to 21 arrest warrants.

The FIU warned that fraud and money‑laundering are increasingly converging in the digital realm, posing a growing threat to consumers and financial institutions.