Germany: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

March 24, 2010

Summary

This Detailed Assessment Report reviews antimoney laundering and combating the financing of terrorism (AML/CFT) measures for Germany. The report reveals that Germany has introduced a number of measures in recent years to strengthen its AML/CFT regime. Germany has generated a relatively large number of prosecutions for money laundering and orders to confiscate assets. These achievements occurred even though Germany has shortcomings identified in this assessment against the Financial Action Task Force (FATF) 40 + 9 Recommendations. There are also weaknesses in the legal framework and in sanctioning for noncompliance with AML/CFT requirements.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: AML Act, Anti-money laundering and combating the financing of terrorism (AML/CFT), beneficial owner, business organization, CR, criminal offense, Europe, Global, ISCR, Legal support in revenue administration, ML offense, Money laundering, predicate offense, public directory, Terrorism financing

Pages:
372
Volume:
2010
DOI:
https://doi.org/10.5089/9781451981810.002
Issue:
078
Series:
Country Report No. 2010/078
Stock No:
1DEUEA2010001
ISBN:
9781451981810
ISSN:
1934-7685

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