Germany: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism-Technical Notes
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Summary:
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, and the implementation of AML/CFT measures by banks with cross-border operations. According to the 2010 Mutual Evaluation Report, Germany is vulnerable to ML and FT for following reasons: its strategic location in Europe and large economy, open financial center, open borders, and strong international linkages.
Series:
Country Report No. 2016/190
Subject:
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
English
Publication Date:
June 29, 2016
ISBN/ISSN:
9781498323697/1934-7685
Stock No:
1DEUEA2016002
Pages:
31
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