Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 20 JULY 2011

The German Government Cracks Down On Money Laundering

Oppenhoff
Explore more from Oppenhoff

The various aspects of compliance are high on the agenda of both the economic and political players in Germany. Most recently, the German government has approved a draft legislation for stricter rules on anti money laundering.

GermanyGovernment, Public Sector
Stephan König
Stephan König
Author LinkedIn connections

The various aspects of compliance are high on the agenda of both the economic and political players in Germany. Most recently, the German government has approved a draft legislation for stricter rules on anti money laundering. The reform of the Money Laundering Act (Geldwäschegesetz) will bring new, quite restrictive rules for companies and individuals into effect. Among others, companies will have to appoint a money laundering officer.

Adaption to international standards

International institutions have identified several shortcomings regarding the current German anti-money laundering rules. The Financial Action Task Force on Money Laundering (FATF), as an interstate committee based at the OECD in Paris, draws up international standards for the combating of money laundering and the funding of terrorism and also verifies the ratification of these standards. Germany is one of the founding members of the FATF and has obligated itself to implement these standards into

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Commission Proposes EU Public Procurement Act

The European Commission has proposed replacing the EU's three core procurement directives with a single, directly applicable Regulation that would fundamentally reshape how companies compete for public contracts across Member States. The reform introduces mandatory quality criteria thresholds, embeds ESG considerations as evaluation factors, and establishes new security and European-preference provisions that could restrict participation based on ownership, supply chain exposure, and strategic dependencies.
European UnionGovernment, Public Sector
Jones Day
Jones Day
Article

The AfD’s Victory In Saxony-Anhalt And The Outlook For German Politics, Trade And Economic Policy

Germany's Alternative for Germany (AfD) party achieved a historic victory in Saxony-Anhalt regional elections, winning nearly 44% of the vote and dealing a severe blow to the ruling Christian Democratic Union. The election results are creating political instability that could weaken Berlin's leadership role in the European Union and reshape the bloc's approach to critical trade, industrial policy, and China relations during a pivotal period for European policymaking.
GlobalGovernment, Public Sector
Steptoe LLP
Steptoe LLP
Article

Germany’s Military Modernization Is Shaping The Future Of Europe’s Security And Defense Industry

Germany is positioning itself to become Europe's dominant military power through an extensive defense modernization program that will run through 2039. With defense spending more than doubling since 2020 and investments spanning space, AI, drones, and long-range capabilities, Berlin's military ascendance creates both opportunities and tensions with traditional European defense leaders like France and Poland.
GermanyGovernment, Public Sector
Steptoe LLP
Steptoe LLP
Article

Dissent Channel: Will German Chancellor Friedrich Merz Resign?

Two analysts from Stepwise's Global Strategic Engagement Team debate whether German Chancellor Friedrich Merz can survive the political fallout from the CDU's historic regional election losses in September, or if mounting party pressure will force his resignation. Ian Cameron argues Merz will cling to power despite weakened authority, while Thomas Goldstein contends his chancellorship appears terminal.
GermanyGovernment, Public Sector
Steptoe LLP
Steptoe LLP
Article

Leaked Draft German Foreign Direct Investment Screening Act

Germany is modernizing its foreign direct investment screening regime to align with EU standards by 2028. The leaked draft of the new Investment Screening Act reveals a largely familiar framework with elevated statutory protections, but introduces notable changes for EFTA investors and listed company thresholds. Will the final legislation maintain this continuity or introduce more substantial reforms as parliamentary debate unfolds?
GermanyGovernment, Public Sector
A&O Shearman
A&O Shearman