Germany: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, March 24, 2010
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- Germany: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: March 24, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451981810.002
Summary findings
- The report reviews antimoney laundering and combating the financing of terrorism (AML/CFT) measures for Germany.
- 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 weaknesses in the legal framework and in sanctioning for noncompliance with AML/CFT requirements.
Enforcement outcomes and indicators
- Relatively large number of prosecutions for money laundering.
- Relatively large number of orders to confiscate assets.
Legal and regulatory observations
- Shortcomings identified against the FATF 40 + 9 Recommendations.
- Weaknesses in the legal framework for AML/CFT.
- Weaknesses in sanctioning for noncompliance with AML/CFT requirements.