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Finance Minister Lindner: "New era"
Photograph:
Fabian Sommer / picture alliance/dpa
The German government wants to step up its efforts to combat money laundering and create a new authority for this purpose. The cabinet has now approved corresponding plans by Finance Minister Christian Lindner.
"We are bundling the different competencies in a new authority with sufficient staff and a modern IT infrastructure," said the FDP politician. "This is the only way we will be able to ensure that the big fish are caught in the net in the future. We are thus ushering in a new era in the fight against financial crime."
Money laundering is more widespread in Germany than in many other countries. Above all, there is a lack of effective law enforcement.
A new Federal Office for Combating Financial Crime is now planned, in which analysis, criminal investigations and supervision will be coordinated. Within the authority, a "Money Laundering Investigation Centre" is planned, which will be active in significant, international cases of money laundering with a connection to Germany – with all the powers to which the law enforcement authorities are entitled.
The investigation centre is to start with suspicious financial flows in order to uncover underlying crimes. The concept is called "follow the money" and is intended to lead to professional backers and networks more quickly.
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