In this way, large transactions will be traceable, and the risk of concealing the source of large assets will be reduced, according to a strategy paper.
Faeser would like to present this formally at the autumn conference of the Federal Criminal Police Office in Wiesbaden this afternoon. Available from the German Press Agency. Faeser had previously requested a cash cap, thus causing mixed reactions.
Digital Financial Investigations
Illegally acquired assets should no longer enter the legal economic cycle, no longer usable for their owners, or at least remain recognizable and traceable. Cooperation with various players in the financial world should be further expanded and a competence center established for digital financial investigations.
Some other European countries also have cash ceilings to combat money laundering. A relatively large amount is still paid in cash in Germany. Critics, above all from the liberal-conservative segment, see the cash cap as the first step towards the elimination of cash. The government denies this. (pbe/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
