6:27 19 June 2026
mBank faces KNF fines
Poland’s financial regulator has imposed nearly PLN 15 million in penalties on mBank, citing what it described as serious failures in customer protection, compliance procedures and internal controls. The decision, issued by the Polish Financial Supervision Authority (KNF), is not final and can still be challenged by the bank.
According to the regulator, mBank allowed unauthorized third parties to participate in aspects of customer service and failed to adequately verify individuals who received client information during treasury-transaction negotiations. KNF also alleged that some foreign-exchange hedging products were not properly classified as financial instruments, potentially depriving clients of protections required under EU financial-services rules.
The regulator further criticized weaknesses in the bank’s internal control system and oversight mechanisms. mBank rejected the allegations, describing the case as relating to historical processes involving a limited group of clients rather than the security of customer funds or current operations. The bank said the evidence does not support KNF’s conclusions and confirmed it will use available legal channels to challenge the decision.
Source: pb.pl
