Germany could do more to tackle money laundering says FATF
Germany has drawn criticism from the Financial Action Task Force (FATF) for not doing enough to tackle money laundering, such as not implementing reforms to its anti-money laundering and counter financing of terrorism (AML/CFT) regime and prosecuting very few for money laundering.
In its Mutual Evaluation Report Germany-2022, the FATF also says the world’s fourth largest economy is vulnerable to terrorist financing threats posed by hawala money value transfer services (MVTS).
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