The New Money Laundering Act: Another Attempt at Cash Restrictions

Dirk Meyer ()
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Dirk Meyer: Helmut-Schmidt-Universität

Chapter Chapter 8 in European Union and Monetary Union in Permanent Crisis I, 2022, pp 121-131 from Springer

Abstract: Abstract Cash still plays an important role in Germany, despite various electronic payment methods (credit/debit card). The implementation of the Fourth and Fifth EU Money Laundering Directive in German law has led to a greatly changed Money Laundering Act (GwG). This is associated with a significant expansion of the regulations and a de facto restriction of cash transactions. In particular, credit institutions, but also cash-intensive service providers and retailers will have to meet considerable requirements in the future. Another step is being taken in the direction of the “transparent citizen”.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-38643-6_8

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DOI: 10.1007/978-3-658-38643-6_8

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