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Germany Seeks to Enhance Corporate Transparency With New Sanctions Bill

By Koos Couvée

Germany's Finance Ministry on Wednesday disclosed new measures to stem the abuse of legal entities by sanctions evaders and other financial criminals, including a plan to link the country's real estate ownership registries to a separate database showing the true owners of companies. In a 90-page draft Sanctions Enforcement Act II, German officials outlined 11 measures to strengthen the country's implementation and enforcement of sanctions amid concerns over systemic weaknesses that have left the country unable to effectively enforce Western financial and trade embargoes against Russia and tackle financial crime more broadly. "The existing regulations have so far not been...

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