The top official of an international group of 164 financial intelligence units has voiced concern that last week's unprecedented police raid on Germany's anti-money laundering body at the behest of state prosecutors could undermine its independence.
Investigators searched Germany's financial intelligence unit Tuesday over suspicions that staff failed to turn over intelligence linked to a money-laundering probe, in possible violation of criminal law.
German customs authorities dismantled a gold trading network that used legitimate firms in Germany, the United Kingdom and the United Arab Emirates to launder at least €45 million in drug proceeds, fueling calls for increased scrutiny of transactions involving precious metals.