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

1DEUEA2010002 Image
Price:  $18.00

Release Date: © March, 2010
ISBN : 978-1-45198-182-7
Stock #: 1DEUEA2010002
English
Stock Status: On back-order

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Description

This report reviews observance of standards and codes on the Financial Action Task Force (FATF) Recommendations for antimoney laundering and combating the financing of terrorism (AML/CFT) for Germany. The report reveals that the AML/CFT framework is not fully in line with the FATF Recommendations. There are weaknesses in the legal framework and in sanctioning for noncompliance with AML/CFT requirements. German authorities regularly use a broad range of legal procedures to seize, confiscate, and forfeit property, but they confiscate and forfeit a lot less property than the courts issue orders for.

Taxonomy

Anti-money laundering , Economic sectors , Financial institutions and markets , International financial system , Legislation , Private sector




More publications in this series: IMF Staff Country Reports