Germany: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism-Technical Notes
IMF Staff Country Reports, June 29, 2016
Source details
- Canonical URL
- Germany: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism-Technical Notes
Other formats
Bibliographic details
- Published: June 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498323697.002
Overview and Purpose
- This paper sets out the findings and recommendations in the selected areas of Germany’s Anti- Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime made in the context of the Financial Sector Assessment Program.
- It summarizes the findings of a targeted review of:
- Germany’s money laundering offense,
- measures to ensure the transparency of legal persons,
- the implementation of AML/CFT measures by banks with cross-border operations.
Key Findings and Vulnerabilities
- According to the 2010 Mutual Evaluation Report, Germany is vulnerable to ML and FT for the following reasons:
- its strategic location in Europe and large economy,
- open financial center,
- open borders,
- strong international linkages.
Subjects and Keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Auditing, Banking, Crime, External audit, Legal support in revenue administration, Public financial management (PFM), Revenue administration
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), audit report, audit review, Auditing, BaFin AML, bank, CFT, CFT measure, CFT supervisor, control measure, CR, Europe, External audit, Global, information, ISCR, Legal support in revenue administration, offense, onsite inspection, policy body, predicate offense
Content in this bundle
- _cr16190 — Executive Summary