New anti-money laundering rules have been in effect since October. Since then, the number of suspected cases has risen sharply.
The anti-money laundering unit of customs recorded more suspicious activity reports nationwide than ever before – almost 300,000. In 2020, the number was still 144,000, as reported by the General Customs Directorate in Bonn on Monday. The reason for the strong increase is, among other things, a new regulation on reportable facts in the real estate sector. It came into force in October 2020 and was effective for the first time in 2021.
The total number also includes suspicious activity reports with a potential connection to terrorist financing. In one case, after an analysis by the Financial Intelligence Unit (FIU), a State Criminal Police Office determined donations of around 600,000 euros. They had flowed into an account of a Salafist association, against which ban proceedings were pending. The FIU is the national central office for investigating possible money laundering transactions. It has its headquarters in Cologne and employs a good 630 people.
Due to the relatively low interest rates, the real estate sector continues to be very attractive to investors, explained FIU head Christof Schulte. This also applies to criminals who try to “invest their illegally earned profits in “concrete gold” and “wash it clean” in this way”. The real estate sector was therefore also the focus of the FIU analyzes in 2021. “The reports sent by notaries and real estate agents are particularly relevant for us.”
The FIU evaluates the suspicious transaction reports in a multi-stage process. Of the almost 300,000 reports, around 40,000 were passed on to other authorities in 2021, primarily to public prosecutors and state criminal investigation offices. These authorities will then investigate further if necessary. In 2021, the FIU received a good 14,000 responses from public prosecutors: the proceedings were discontinued in 90 percent of the cases. In 1352 cases there were verdicts, penal orders, resolutions or charges. Illegally obtained assets were confiscated around 700 times. A prison sentence was imposed in 54 cases, 25 of which were suspended.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
