Skip to content

Germany Still Hasn’t Done Enough Against Dirty Money, FATF Says

  • Watchdog highlights trouble in coordinating myriad authorities
  • Wirecard collapse in 2020 added pressure to tighten controls
Germany has been attempting to beef up its financial crime controls, notably after the collapse of Wirecard in 2020.

Germany has been attempting to beef up its financial crime controls, notably after the collapse of Wirecard in 2020.

Photographer: Alex Kraus/Bloomberg

Germany still hasn’t done enough to prevent money laundering even after a raft of reforms in recent years, according to a global watchdog.

With more than 300 authorities responsible for tackling money laundering, the country faces challenges in coordination and doesn’t deal adequately with the risk of large amounts of cash being smuggled across borders, the Financial Action Task Force said Thursday in a report published in Paris.