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Germany’s AML Campaign Wins Praise, Draws Criticism

By Gabriel Vedrenne

Germany's controls against money laundering, terrorist financing and other financial crimes have improved dramatically since 2010, but sometimes only on paper, as erratic supervision, prosecution and enforcement limit the impact of those upgrades in practice. Those and other findings unveiled by the Financial Action Task Force on Thursday following the group's onsite evaluation of Germany in November paint a mixed picture of the country's campaign against illicit finance, which has sputtered amid a series of scandals and missteps at Deutsche Bank, Wirecard and most notably at the nation's financial intelligence unit, or FIU. FATF's 330-page summary of the review praises...

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