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Germany: Bundestag adopts draft bill on AML
The Federal Ministry of Finance ('BdF') announced, on 14 October 2020, that the German Parliament ('Bundestag') had adopted the draft bill on anti-money laundering ('AML') submitted by the Federal Minister of Justice and Consumer Protection to improve the fight against AML under criminal law. In particular, the BdF noted that the bill aims to further strengthen the foundations for effective and consistent criminal prosecution of AML and implements Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law. In addition, the BdF noted that at the heart of the bill is the waiver of a selective catalog of predicate offences and that in the future, every crime can be a predicate offence to AML.
You can read the press release here and the draft version of the bill here, both only available in German.
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