To make combating money laundering in Germany more effective, the federal government has published a draft law aimed at improving the fight against financial crime. A new Federal Financial Crime Authority (Bundesamt zur Bekämpfung von Finanzkriminalität – BBF) is to coordinate the supervisory authorities and support audits.
The consequence: Companies will be subject to more in-depth checks regarding their compliance with anti-money laundering (AML) regulations.
In his guest article for the DUP Magazine, Dr. Jacob Wende explains which measures will be necessary in the future and shares five practical AML compliance tips for small and medium-sized enterprises.
You can read the full article here .
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