FIU publishes Annual Report 2023

The FIU Annual Report 2023 highlights key developments in the area of suspicious activity reporting related to money laundering and terrorist financing in Germany. A notable aspect for the year 2023 is the decline in the overall number of suspicious activity reports. Additionally, there has been an increase in reports originating from the non-financial sector. Enhanced international cooperation is also being promoted – both between FIUs and within international bodies such as the Financial Action Task Force (FATF) and the Egmont Group.

Suspicious Activity Reports: Financial and Non-Financial Sector Comparison

In 2023, the FIU received 322,590 suspicious activity reports (SARs), representing a decrease of approximately 4.3% compared to 2022. This marks the first decline in over ten years. However, the FIU still received an average of 1,290 SARs per working day.

Overall, the FIU considers the decline in the number of reports to be a positive development, as fewer non-substantive reports were submitted by obligated entities.

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Terrorist Financing and Sanctions: Significant Increase in Relevant Suspicious Reports

Financial Sector:The total number of SARs in the financial sector declined. Notably, reports submitted by financial services institutions more than doubled compared to the previous year. However, a closer look reveals that this surge was primarily due to one institution reporting extensively in connection with unauthorized use of customer accounts.
Non-Financial Sector:In contrast, the non-financial sector recorded an increase in reports of approximately 2.75%. Particularly active were professions such as lawyers, dealers in goods, as well as notaries, auditors, and real estate agents. This increase can likely be attributed to growing awareness of reporting obligations.

A significant rise was observed in SARs related to potential terrorist financing and sanctions violations, which totaled around 5,500 in 2023. This development is mainly due to intensified sanctions regulations and their enforcement in the context of current geopolitical events.

Immediate Measures and Asset Freezes

In 2023, 60 immediate measures were taken to secure assets, with a total value of approximately EUR 310 million. Additionally, the number of operational analysis reports due to indications of money laundering, terrorist financing, or related predicate offenses increased by 116%, totaling 82,000. These reports are forwarded to the relevant competent authorities, mainly public prosecutors and state criminal police offices.

National and International Requests and Spontaneous Information

Cross-border information exchange played a major role in 2023. A total of 1,064 requests were received from foreign authorities, while 1,604 requests were forwarded to other countries. Nearly 1,800 spontaneous intelligence reports were received from abroad, and Germany sent approximately 26,800 spontaneous disclosures to international partners. Through these spontaneous reports, the FIU informs potentially affected partner authorities about SARs with international relevance.

The current FIU Annual Report also includes several special case analyses (e.g. investment fraud, financial analysis linked to organized crime) and further insights. You can access the 2023 FIU Annual Report here: FIU Annual Report 2023