Germany: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2010/078, IMF Staff Country Reports from International Monetary Fund

Abstract: This Detailed Assessment Report reviews antimoney laundering and combating the financing of terrorism (AML/CFT) measures for Germany. The report reveals that Germany has introduced a number of measures in recent years to strengthen its AML/CFT regime. Germany has generated a relatively large number of prosecutions for money laundering and orders to confiscate assets. These achievements occurred even though Germany has shortcomings identified in this assessment against the Financial Action Task Force (FATF) 40 + 9 Recommendations. There are also weaknesses in the legal framework and in sanctioning for noncompliance with AML/CFT requirements.

Keywords: ISCR; CR; business organization; criminal offense; public directory; beneficial owner; ML offense; predicate offense; AML Act; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; Money laundering; Europe; Global (search for similar items in EconPapers)
Pages: 372
Date: 2010-03-24
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