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German FIU Rights Ship, Reconciles with Law Enforcement

By Gabriel Vedrenne

Germany's financial intelligence unit appears to have returned to normalcy following several years of turmoil in which the agency accumulated multiple backlogs of tens of thousands of unprocessed suspicious transaction reports and regularly quarrelled with investigators. Nearly 4,000 banks, money services businesses and other financial services companies in the world's third-largest economy filed 320,000 STRs in 2023, a year-on-year drop of 4 percent that Daniel Thelesklaf, who took over the reins of the FIU in July of last year, attributed in an annual report Wednesday to the agency's prioritization of quality over quantity. But the problems that previously plagued the...

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