Germany: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
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Summary:
This report reviews observance of standards and codes on the Financial Action Task Force (FATF) Recommendations for antimoney laundering and combating the financing of terrorism (AML/CFT) for Germany. The report reveals that the AML/CFT framework is not fully in line with the FATF Recommendations. There are weaknesses in the legal framework and in sanctioning for noncompliance with AML/CFT requirements. German authorities regularly use a broad range of legal procedures to seize, confiscate, and forfeit property, but they confiscate and forfeit a lot less property than the courts issue orders for.
Series:
Country Report No. 2010/079
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Crime Legal support in revenue administration Money laundering Revenue administration Terrorism financing
English
Publication Date:
March 26, 2010
ISBN/ISSN:
9781451981827/1934-7685
Stock No:
1DEUEA2010002
Pages:
15
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