State police searched a pair of federal ministries in Berlin last week as part of a sprawling investigation into Germany's financial intelligence unit that could impact an impending global assessment of their country's laws, rules and overall campaign against financial crime. On Thursday, nearly a year after having raided the FIU's office in Cologne for allegedly withholding dozens of suspicious transactions reports, or STRs, that banks filed from June 2018 to January 2020, four police officers and six investigators with the public prosecutor's office in Osnabruck searched the federal justice and finance ministries in Berlin. News of the raid did...
Investigators searched Germany's financial intelligence unit Tuesday over suspicions that staff failed to turn over intelligence linked to a money-laundering probe, in possible violation of criminal law.
The top official of an international group of 164 financial intelligence units has voiced concern that last week's unprecedented police raid on Germany's anti-money laundering body at the behest of state prosecutors could undermine its independence.
Germany’s financial intelligence unit has cleared a backlog of thousands of unprocessed suspicious transaction reports, or STRs, but still faces an uphill struggle to regain the confidence of bankers and compliance officers, sources told ACAMS moneylaundering.com.