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Germany’s Incoming Government Pitches Anti-Financial Crime Plan

Gabriel Vedrenne
Senior Reporter

After exiting weeks of negotiations with an agreement to form a new government, Germany's Christian Democratic Union, or CDU/CSU, and Social Democratic Party, or SPD, published a 146-page manifesto Wednesday that includes a slate of anti-financial crime reforms. One of the reforms would bar banks and other companies subject to anti-money laundering obligations from processing transactions of more than €10,000 for legal entities "if one or more beneficial owners cannot be identified," both parties wrote in the manifesto, which will serve as a legislative agenda and a compass of sorts for the new coalition. CDU/CSU and SDP, which won 28...

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