Germany
Germany
FINCARR Status: Full Member
Summary
Germany has a strong legal framework for combating money laundering (AML) and counter-terrorism financing (CFT). As a member of the FINCARR, Germany has continuously updated its regulatory practices to align with international standards.
Key Measures
- AML/CFT Legislation: Germany follows EU regulations and FINCARR recommendations to combat financial crimes.
- Financial Intelligence Unit (FIU): The German FIU operates under the Federal Criminal Police Office (BKA), tasked with collecting and analyzing financial intelligence.
- Cooperation with International Organizations: Germany actively engages in cross-border cooperation with international bodies like the EU, FINCARR, and INTERPOL.
Action Plans
Germany has taken significant steps to strengthen its AML/CFT framework, including enhancing international cooperation and improving its national risk assessments.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Implemented |
| Recommendation 2: Legal Framework | Fully Compliant |
| Recommendation 3: Financial Transparency | Compliant |
| Recommendation 4: Customer Due Diligence | Fully Compliant |
| Recommendation 5: Financial Intelligence Unit | Fully Compliant |
International Cooperation
Germany works closely with the European Union, FINCARR, and other global organizations to share intelligence and improve compliance on money laundering and terrorism financing.