The mobile bank N26 must pay a fine of €9.2 million ($10 million) for late reporting of suspected money laundering, Germany’s banking supervisory agency BaFin said in Frankfurt on Tuesday. The agency’s fine notice states that the institution systematically submitted suspicious money laundering reports late in 2022. BaFin noted that credit institutions are obliged to submit a report to the Financial Intelligence Unit (FIU) if they suspect that a transaction or other business event could be related to money laundering or terrorist financing. “These suspicious activity reports must be submitted i…