Germany: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2004/213, IMF Staff Country Reports from International Monetary Fund

Abstract: This report reviews the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering (AML) and Combating the Financing of Terrorism on Germany. In preparing the detailed assessment, assessors reviewed relevant AML and counterterrorist financing (CFT) laws and regulations; the supervisory and regulatory systems in place for banks, foreign exchange, securities, insurance, and money remittance; and criminal law enforcement systems. Germany is reviewing new legislation to re-address the issue of the criminalization of terrorist financing.

Keywords: ISCR; CR; financing; authority; BaFin; correspondent EU regulation; criminal offence; prosecution authority; Customs authorities; seizure authority; state regulator; beneficial owner; Anti-money laundering and combating the financing of terrorism (AML/CFT); Terrorism financing; Money laundering; Insurance companies (search for similar items in EconPapers)
Pages: 14
Date: 2004-07-20
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